SK Telecom to Acquire 49% Stake in Chinese Healthcare Company
9/24/2012 8:13:34 AM
Telecom Co. (017670.SE), South Korea's largest mobile telecom carrier by sales, said Monday it will acquire a 49% stake in China's X'ian Tianlong Science and Technology Co. in a bid to diversify its business portfolio. "The acquisition is aimed at entering the country's rapidly-growing healthcare market," the company said in a statement, adding it will participate in the Chinese firm's management as the second-largest shareholder. The South Korean firm didn't disclose the size of its financial investment.