KEPCO divests part of LG Uplus stake

6 Aug 2014

Korea Electric Power Corp (KEPCO) has sold half of its stake in South Korean multi-service operator LG Uplus, Reuters reports. With the power company having announced plans to sell KRW5.3 trillion (USD4.96 billion) in assets in March 2014, at the date it confirmed it would seek to divest its 8.80% stake in LG Uplus. According to the report, in this initial stake sale KEPCO sold around 19.2 million shares in LG Uplus at KRW9,200 per share, generating around KRW186.3 billion.

As noted in TeleGeography’s GlobalComms Database, at the end of 2013 KEPCO was the second largest shareholder in LG Uplus, with the largest being the LG Group with a 36.05% stake, while the National Pension Service had a 5.09% holding.

South Korea,LG Uplus (formerly LG Telecom),

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share