SK Telecom is reportedly planning to convert its bonds worth $1 bil ion in China Unicom into a 6.7 per cent stake in the same company.

SK Telecom is reportedly planning to convert its bonds worth $1 billion in China Unicom into a 6.7 per cent stake in the same company. China Unicom issued three-year convertible bonds worth $1 billion to SK Telecom in June 2006, with SK Telecom having the option to convert the bonds into China Unicom’s shares during the period July 5, 2007-June 29, 2009. SK Telecom will reportedly convert the bonds at a price of HK$8.63 per share.