SK TELECOM TO BECOME STRATEGIC INVESTOR OF CHINA UNICOM SOON
AsiaInfo Services, June, 2007
AsiaInfo Services 06-29-2007 SK Telecom to Become Strategic Investor of China Unicom Soon BEIJING, Jun 29, 2007 (SinoCast via COMTEX) -- SK Telecom Co., the largest mobile telecom operator in South Korea, expects to convert USD 1 billion worth of convertible bonds it subscribed from its Chinese counterpart China Unicom Ltd.
(SEHK: 0762) as early as possible, so as to become a foreign strategic shareholder of the Chinese giant with a 6.7% stake. China Unicom, the second biggest mobile telecom carrier in the country, inked a framework agreement with the foreign partner about forming a strategic alliance as well as another agreement about issuing USD 1 billion three-year convertible bonds last June in Beijing. The zero-coupond bonds are allowed to be converted into...
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