Unicom completes bond sale to SK Telecom

10 Jul 2006

China Unicom has announced that it has completed the sale of USD1 billion in zero coupon convertible bonds to SK Telecom. Upon conversion, the deal could give the South Korean company up to 899.75 million shares in Unicom, equivalent to a 6.67% stake. Last month the two companies entered into an exclusive strategic alliance to jointly develop CDMA-based services in China.

China, China Unicom, SK Telecom (SKT)