Dacom share sale approved by board

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Dacom share sale approved by board

Board members of Dacom Corp., Korea’s second-largest fixed-line carrier, yesterday approved the company’s plan to sell part of its 28.8-percent stake in customer service provider CIC Korea, Dacom said. Dacom will sell an estimated 10 billion won ($10 million) in shares in CIC Korea on Feb. 1 to Japan’s TCI, though still holding a 19.95-percent stake, according to Dacom’s regulatory filing. In a separate filing, Dacom said its board approved its takeover of the Korea Internet Data Center, a management firm.
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