SK Telecom Co Ltd, South Korea's top mobile operator, sold half of its 2.85 percent stake in steelmaker POSCO for 440 billion won ($395.91 million) before the stock market opened on Monday, an SK Telecom spokeswoman said. The spokeswoman said SK Telecom sold a 1.43 percent stake in POSCO, in which billionaire investor Warren Buffett's Berkshire Hathaway is a shareholder, at 353,100 won per share, a discount of 3.26 percent to POSCO's Friday closing price. Foreign investors were the buyers of the stake, the spokeswoman said.SK Telecom had announced a block sale of part of its POSCO stake in late September to improve its financial structure and secure cash for potential investments, but postponed the sale citing market conditions.Morgan Stanley was the bookrunner for Monday's sale.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-A traded higher by 0.2% or $274.0/share to $135555.00. In the past year, the shares have traded as low as $109304.00 and as high as $136100.00. On average, 48931 shares of BRK-A exchange hands on a given day and today's volume is recorded at 593.
Berkshire Hathaway Inc. (Berkshire) is a holding company owning subsidiaries engaged in a number of diverse business activities. Shares of BRK-B traded higher by 0.07% or $0.06/share to $90.42. In the past year, the shares have traded as low as $72.55 and as high as $90.76. On average, 3981380 shares of BRK-B exchange hands on a given day and today's volume is recorded at 3624904.
POSCO is a Korea-based company engaged in the manufacture of steel products. Shares of PKX fell by 0.58% or $-0.48/share to $81.96. In the past year, the shares have traded as low as $74.05 and as high as $95.27. On average, 186012 shares of PKX exchange hands on a given day and today's volume is recorded at 69500.
SK TELECOM CO., LTD. is a Korea-based company mainly engaged in the provision of wireless communication services. Shares of SKM traded higher by 1.31% or $0.19/share to $14.73. In the past year, the shares have traded as low as $10.85 and as high as $15.99. On average, 1779920 shares of SKM exchange hands on a given day and today's volume is recorded at 938131.
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