Having expected the imposition of a research blackout late last week ahead of pricing just before Chinese New Year, syndicate members have instead been released from their confidentiality agreements for an exchangeable deal, which would have monetized part of SK Corp's stake in SK Telecom. Observers now believe the deal will not re-surface for at least two months as the group waits to see if SK Telecom's share price returns to a target level of Won290,000 per share.
SK Corp's reticence is not that surprising given the huge size of the deal and the current level of SK Telecom's share price relative to where it was trading when a mandate was first awarded to Credit...
