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S. Korean telco SK sells 3.8% stake in China Unicom

SEOUL, Nov 6, 2009 (Asia In Focus via COMTEX) --

Company: China Unicom Ltd. (CHUFF)

South Korea's SK TELECOM CO. (KSE:017670), South Korea's leading mobile carrier, said Friday that it has completed the sale of its 3.8 per cent stake in CHINA UNICOM LTD. (SEHK:0762) in a move to adjust its business portfolio. SK Telecom sold about 900 million shares of China Unicom, China's No. 2 mobile provider, for 1.5 trillion won (US$1.26 billion), the South Korean company said in a regulatory filing.

* In July 2006, SK Telecom purchased $1 billion worth of convertible bonds issued by China Unicom listed on the Hong Kong Stock Exchange.

* SK Telecom converted the bonds into shares in August 2007.

Copyright (C) 2009 Asia in Focus. All rights reserved

News Provided by COMTEX

Company: China Unicom Ltd. (CHUFF)


Related terms: bonds, business, china, south korea, telco, telecom

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