SK Telecom sells its China Unicom stake

South Korean operator SK Telecom sold its 3.8 percent stake in China Unicom back to the Chinese operator for an estimated $1.3 billion. China Unicom said it will fund the repurchase from its cash flow and working capital or a combination of outside funding. The Korean company invested in China Unicom in 2006 and paid about $1 billion for bonds in the company. The two firms planned to cooperate on CDMA. However, since that time China Unicom has been ordered by the government to split off its CDMA business to China Telecom in order to focus on its GSM/WCDMA network. Article

Suggested Articles

T-Mobile has narrowly snagged the top spot for fastest national 4G LTE download speeds since March, but network upgrades drove significant gains for AT&T,…

The hype around 5G is creating confusion, and will likely lead to disappointed users. Now is the time to reel in expectations.

The Church of Jesus Christ of Latter-day Saints is concerned about protecting its investment in the C-Band and wants assurances from the FCC that it will be…