According to a report in the Financial Times, SKT is planning on buying a stake in China Unicom; However, the Korean carrier has come out and called the report simply "untrue." SKT has confirmed that it's looking at possibilities to enter China's wireless market but nothing has been determined about an investment in China Unicom. The Financial Times quoted unnamed bankers as saying that the carrier plans to buy a 10 percent stake in China Unicom in a deal worth approximately $1.1 billion. SKT has been looking to invest and expand its operations overseas since its domestic market is nearing saturation.
For more on the rumored SKT, China Unicom tie-up:
- see this article from Cellular-News