SK Telecom (SKM),
South Korea's largest mobile/wireless service provider at almost 50%
share, has remained a frustrating but useful lesson in the perils of
chasing "value" without context. While SK Telecom shares have long
seemed undervalued, the company's weakening wireless business has been a
growing concern, as is the possibility that more and more non-telco
investments may be coming. At this point, given the significant
uncertainties across the business, I'm just not interested in SK Telecom
- there does seem to be value here, but I have a very real fear that
management will squander it and/or that investors will see relatively
little of it.
Read the full article here:
Weak Core Wireless Results And Strategic Uncertainty Undermine SK Telecom's Value
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