SK Telecom, South Korea's largest carrier, sold 60 percent of its handset business, SK Teletech, to Korean mobile phone maker Pantech for approximately $299 million in cash. SK Telecom will maintain a 29.1 percent stake in SK Teletech, making it the company's second-largest shareholder. SK Telecom will maintain its strategic position with SK Teletech, working with the company to develop new mobile devices.
For more on the SK Telecom, Pantech deal:
- check out this piece from DMasia.com
PLUS: How will this deal impact SK Telecom's overall strategy? Article