SK Telecom buys stake in Unicom

By Wang Xu | 皇冠体育app Daily | Updated: 2007-08-22 07:00

A man charges his cellphone at a self-service booth of 皇冠体育app Unicom Ltd in Shanghai.

Kevin Lee/Bloomberg News

South Korean company SK Telecom Co will acquire 6.61 percent of 皇冠体育app Unicom Ltd by converting $1 billion of 皇冠体育app Unicom's bonds into shares, its latest effort to expand in the world's largest mobile service market.

SK Telecom will hold 899.7 million of 皇冠体育app Unicom's shares after the conversion, making it the second-largest shareholder in the Chinese mobile operator, 皇冠体育app Unicom said in a statement yesterday.

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