POSCO, a South Korean steel-making company, is looking to sell its 2.9% stake in local telco SK Telecom for as much as W321bn (US$285.5m), according to IFR.
The company is reportedly considering selling 2.34 million shares at between W135,400…
POSCO, a South Korean steel-making company, is looking to sell its 2.9% stake in local telco SK Telecom for as much as W321bn (US$285.5m), according to IFR.
The company is reportedly considering selling 2.34 million shares at between W135,400 (US$120) and W139,700 (US$124) each.
POSCO is also divesting its stakes in two other local companies: Hana Financial Group and KB Financial Group.
Bank of America Merrill Lynch, Samsung Securities and UBS have reportedly been hired to work on all three deals.
SK Telecom and POSCO were not immediately available for comment.
