SK Telecom Co Ltd is trading 10.2% down at $40.45 as reports emerge about a significant asset sale. The stock is reversing sharply from its recent surge in late May and early June.
- According to a report from ChosunBiz, SK Telecom is in the final stages of selling up to a 49% stake in its Ulsan artificial intelligence (AI) data center.
- The deal is valued in the mid-2 trillion won range, with KKR, IMM Investment, and Stonebridge Capital as the preferred bidders.
- This news provides a significant company-specific catalyst that likely accounts for the sharp downward pressure on the stock, which was previously attributed to a technical pullback.