SK Telecom (KRX:017670) subsidiary SK Broadband plans to spin off its data center, CDN and international private line businesses into a new unlisted company, according to a Thursday filing with the Korea Exchange.
The new company has been tentatively named SK Horizon. The spin-off is being carried out to enhance business expertise and strengthen management efficiency, the filing said.
Shares of SK Telecom fell nearly 1% at market close.
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