SK Telecom Becomes China Unicom's Second-Largest Shareholder

South Korea's largest mobile carrier, SK Telecom, will become the second-largest shareholder in China Unicom, Thomson Financial reported. The board of directors of SK Telecom approved a proposal to convert its bond holdings of US$1 billion into a 6.6% stake in the Chinese company. SK Telecom purchased the convertible bonds last year as part of its global business strategy.