Taihan Electric Wire to offload Mongolian firm stakes
TAIHAN ELECTRIC WIRE CO. (KSE:001440), South Korea's second-largest wire maker, said Tuesday that it decided to sell all its shares in two Mongolian firms for 22.5 billion won (US$19.1 million) to bolster the company's liquidity condition. The company will sell its 22.82 per cent stake in UNITEL CORP., Mongolia's third-largest mobile communication operator, for 15 billion won on December 31, it said in a statement.
* The wire maker will also cut its 30.77 per cent stake in Mongolia-based SKY RESORT for 7.5 billion won at the end of 2010, it said.
* MCS GROUP, the largest shareholder of Unitel and Sky Resort, will buy the shares from Taihan Electric.
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* The wire maker will also cut its 30.77 per cent stake in Mongolia-based SKY RESORT for 7.5 billion won at the end of 2010, it said.
* MCS GROUP, the largest shareholder of Unitel and Sky Resort, will buy the shares from Taihan Electric.
For full details on (TEWRF) TEWRF. (TEWRF) has Short Term PowerRatings at TradingMarkets. Details on (TEWRF) Short Term PowerRatings is available at This Link.
For full details on (UTNV) UTNV. (UTNV) has Short Term PowerRatings at TradingMarkets. Details on (UTNV) Short Term PowerRatings is available at This Link.
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