SEOUL Aug 5 Korea Electric Power Corp (KEPCO)
sold a 4.4 percent stake in telecom company LG Uplus
Corp worth around 186.3 billion won ($180.36
million), a KEPCO official said on Tuesday.
State-run utility KEPCO sold the stake of about 19.2 million
shares in LG Uplus, the No. 3 telecom company in South Korea,
for 9,700 won per share after the market closed on Monday, said
the official, who declined to be identified.
That represented a discount of 3 percent from Monday's
closing price of 10,000 won.
A spokeswoman for KEPCO was reached but did not have an
In March, KEPCO announced a plan to sell 5.3 trillion won
($4.96 billion) in assets by 2017 to cut debt, including its 8.8
percent stake in LG Uplus.
Citigroup and Woori Investment & Securities
are bookrunners for the sale.
($1 = 1032.9500 Korean Won)
(Reporting by Joyce Lee; Editing by Paul Tait)