It has been a busy start to the week with several sizeable block trades and a couple of convertible bonds done in Asia, but jittery markets in Europe and the US finally took their toll last night, forcing SK Telecom to pull a planned sell-down in Korean steelmaker Posco.
The Korean telecom company, which owns about 2.85% of Posco, was aiming to raise up to $324 million from the sale of approximately 40% of its holdings at a 2% to 4% discount to the latest close.
The deal was launched despite the fact that US markets had been down overnight and that most Asian markets were in...
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