A momentous deal for SK Corp

SK Corp monetizes a stake in SK Telecom after one of the most gruelling experiences in recent Asian markets history.

Having spent the past six months trying to time a share sale in SK Telecom SKT, parent company SK Corp could hardly have picked a worse moment to complete a deal. However, conscious that it had already pulled back once this year because it felt the wireless operator's share price was not high enough, the company found the determination to see the process through this time round. And non-lead syndicate bankers believe that it came out the other side with a deal, which held together remarkably well considering the state of the underlying global equity markets.

For lead managers Credit Suisse First Boston and Goldman Sachs it was a particularly exhausting experience trying to...

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