South Korean operator SK Telecom said it had sold its 29.3 percent stake in Mongolian operator Skytel for KRW25.8 billion (US$23.2 million), to existing shareholders Sun Clay Group and Global Com. SK initially acquired a 20 percent stake in Skytel in return for its decommissioned analogue network equipment: it subsequently paid KRW600 million in cash to increase its stake further. Including dividends, it has earned KRW28.3 million from the business, 46 times its cash investment.
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