In Brief: SK Telecom denies China Unicom buy

June 7, 2006

South Korean wireless provider SK Telecom Wednesday denied a published report it was about to acquire a stake in China Unicom.

An unidentified company official told the Korea Times that while SK was interested in expanding its presence in China, there had been no talks on China Unicom.

SK Telecom has had an eye on China due to saturation of the Korean market.

The Financial Times said Tuesday SK Telecom planned to buy 10 percent of state-owned China Unicom for about $1.1 billion.

China Unicom is one of two major wireless operators on the mainland with about 105 million subscribers.

Copyright 2006 by United Press International

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