Korea Telecom secures premium pricing

Few are hailing Korea Telecom 2 a major triumph, but a number believe that the $2.242 billion deal that priced yesterday (Thursday) can be considered a minor one. For the Korean government, it will have come as a great relief that it has not been faced with its usual dilemma of whether to price a national asset at a cheaper price to foreigners than local investors are able to buy it. More importantly, the completion of the deal is likely to inject some momentum back into its privatization and now allow KT to concentrate on finding a strategic investor to move the company forwards.