Korea Telecom secures premium pricing

The Korean government has finally been able to price a privatization offering at a premium to the underlying share price.

Few are hailing Korea Telecom 2 a major triumph, but a number believe that the $2.242 billion deal that priced yesterday Thursday can be considered a minor one. For the Korean government, it will have come as a great relief that it has not been faced with its usual dilemma of whether to price a national asset at a cheaper price to foreigners than local investors are able to buy it. More importantly, the completion of the deal...

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