Korea Telecom moves forward with ADR

The Korean government has issued the RFP (Request For Proposals) in the next round of the privatization of Korea Telecom.

The RFP to lead a roughly $2.3 billion ADR has been sent to 16 banks, with submissions due next Friday. The only notable omissions are JPMorgan and Merrill Lynch, both of which have been conflicted because of the ongoing sale of a strategic stake in the telecoms company.

Merrill's would have been automatically unable to participate because it is acting as the sell side advisor. However, the exclusion of JPMorgan is more controversial, ...

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: korea | telecom | moves | forward | adr

Print Edition

FinanceAsia Print Edition