– SK Telecom(SKT) Bought 3% of its shares from Korea Telecom(KT)
On November 2, 2001, the trust fund which was set up for the stock repurchase purpose bought 3% (2,674,580 shares) of Company’s share held by Korea Telecom after trading hours. All the shares were bought at a single price of KRW 250,000 per share and the total trade amount was approximately KRW 668.6 billion. Since KT has openly announced that they would have to sell part of its holding in SKT within this year, this purchase resolves the potential overhang from KT. It is our understanding that KT does not have any plan or need to sell additional stake in SKT and also any possible future sale will not be done through the market.
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