September 26, 2012 / 9:10 AM / 5 years ago

South Korea's SK Telecom to sell $391 million stake in POSCO

SEOUL, Sept 26 (Reuters) - SK Telecom Co Ltd, South Korea’s top mobile operator, said on Wednesday that it will sell part of its stake in steelmaker POSCO for 437.3 billion Korean won ($390.66 million) leaving it with a 1.42 percent stake after the sale.

SK Telecom said in a regulatory filing it made the decision to improve its financial structure and secure cash for potential investments.

$1 = 1119.3750 Korean won Reporting by Hyunjoo Jin; Editing by Matt Driskill

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