KT Freetel to sell U Mobile stake for US$100m

Posted on April 18th, 2009 in 018-U Mobile News by charickk

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KT Freetel to sell U Mobile stake for US$100m

KT Freetel Co, the second-largest South Korean wireless service provider, will sell a 16.5 per cent stake in Malaysia’s U Mobile Sdn Bhd for at least US$100 million to avoid losses on its investment.

KT Freetel will sell the 62.6 million shares to U Mobile’s major shareholder, it said today in a regulatory filing. – Bloomberg

from http://www.btimes.com.my/Current_News/BTIMES/articles/20090417172457/Article/index_html

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