Views Mixed on Sale of SK Telecom Stake to NTT DoCoMo
February 2, 2001 (SEOUL) -- Industry watchers are offering mixed forecasts as to
whether the 14.5 percent sale of SK Telecom Co., Ltd. shares, which was disclosed by
the firm earlier this year, will be finalized before the deadline at the end of March.
SK Telecom had announced that it would sell the equity stake to NTT DoCoMo Inc. NTT
DoCoMo is said to have completed spot examinations and evaluations regarding the
market environment and the technology level of SK Telecom.
The problem that remains to be solved, however, is the stock value for the SK Telecom
issues, and the credibility of Signum 9, which will take over the SK shares prior to
negotiations with NTT DoCoMo.
Market watchers are expressing uncertainty regarding the credibility of Signum 9,
stating that it may be a paper company lacking the ability to carry out such a large
project. However, SK Telecom is expressing confidence in the equity sale.
Signum 9 is a company that Goldman Sachs, a consultant to SK Telecom,
recommended to the company, an SK Telecom official said.
Some analysts have stated that Signum 9 has no significant role in the sale, as
Goldman Sachs is rumored to be deeply involved in the equity sale procedures.
We handed over negotiation rights to Signum 9 in a move to speed up the negotiation
process, the SK Telecom official added.
However, should the equity sale fail to bear fruit by the announced deadline, SK
Telecom will lose investor confidence, securities specialists predicted.
(Maeil Business Newspaper, Korea)
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