The New QUALCOMM - Coming Into Buy Range Message Board

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Technology Stocks : The New QUALCOMM - Coming Into Buy Range

QCOM 174.01

-0.3%

3:59 PM EST

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From: mindy1968	8/21/2007 10:39:23 AM
	of 9129

SK Telecom to take stake in China Unicom AFP Tuesday, August 21, 2007 12:07:16 PM Oman Time timesofoman.com SEOUL –– South Korea's SK Telecom said Tuesday it would become the second-largest shareholder in China Unicom by converting bonds worth one billion dollars into shares. The company, South Korea's largest mobile phone operator, said the move to forge a stronger strategic partnership would help it make inroads into the Chinese market. It said in a statement it would swap convertible bonds worth one billion dollars for full shares, making it the second-largest shareholder of China Unicom with 6.6 percent of shares and one director on the board. The Chinese firm is the country's second largest mobile carrier. "The conversion will mark a turning point for SK Telecom to make a step forward in partnership with China Unicom on top of our existing collaboration in the CDMA area," said SK Telecom chief executive officer Shin Bae-Kim. SK Telecom has more than 20 million subscribers, over 50 percent of the South Korean market.

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