Korea Electric Power Corp (Kepco) is reportedly looking to sell its 4.4% stake in South Korean mobile operator LG Uplus in a deal that could raise US$190m.
South Korea’s largest electric utility is planning to exit the telco at W10,800-W11,000…
Korea Electric Power Corp (Kepco) is reportedly looking to sell its 4.4% stake in South Korean mobile operator LG Uplus in a deal that could raise US$190m.
South Korea’s largest electric utility is planning to exit the telco at W10,800-W11,000 (US$9.7-US$9.8) per share, according to Reuters citing a term sheet.
It follows the group’s sale of a 4.4% stake in August for US$180m, added the report.
Shares in LG Uplus Corp, which is controlled by South Korean conglomerate LG Group, closed down 0.44% to W11,250 (US$10.05) on Monday.
State-run Kepco was reported earlier this year to have hired Barclays to sell some of its offshore assets to reduce its debt.
The companies were unable to comment before the press deadline.
