Asian telcos reshuffle ownership stakes

NEWS Korean telcos SK Telecom, a mobile operator, and KT, the dominant fixed-line and broadband provider, have distanced themselves from one another following competition concerns and government pressure. SK Telecom has reduced its stake in KT from 11.34 to 9.55 per cent through a bond sale. Between them, the two companies account for around 86 per cent of South Korea's 30 million mobile users. The country is a leader in mobile and broadband technology. Meanwhile in Indonesia, the government has raised around $730m by selling a 3.1 per cent of national carrier PT Telkom.