Welcome Guest Login | Register | Site Map | | Make TelecomTiger my homepage     
Telecom News
Enterprise |  Policy & Regulation |  Mobiles & Tabs |  Corporate |  VAS |  People Movement  |  Technology  |  LTE
Corporate
SK Telecom sells $395.91 million stake in POSCO-Report
TT Correspondent |  |  08 Oct 2012

South Korea’s SK Telecom Co Ltd, said it sold half of its 2.85 percent stake in steelmaker POSCO for 440 billion won ($395.91 million) before the stock market opened on Monday, according to Reuters.

The exrcise is a part of efforts to secure capital for future investments

"We signed the contract (with share buyers) on Saturday, and traded before the market open this morning," the spokeswoman said.

Last month SK Telecom had said that it postponed the planned sale of its 1.43% stake in steelmaker Posco citing poor market conditions, reversing from its position announced a day earlier.

    
 mail this article    print this article    Show and Post comment
08 Oct 2012(IST)  
Whitepaper
Maintain Business Continuity with Cisco ASR 9000 nV Technology
It is a virtual chassis solution where a pair of ASR 9000 routers acts as a single device by maintaining a single contr...read more
Simplify Your Network with Cisco ASR 9000 nV Technology
With the new Cisco Network Virtualization (nV) technology in the Cisco ASR 9000 Series Aggregation Services Routers, se...read more
Cisco Small Cell Solution: Reduce Costs, Improve Coverage
It is designed to address the challenge of mobile service coverage and to expand network capacity...read more
Other Stories of the Day