Pantech creditors again extend deadline for debt-equity swap
Seoul
Seoul - Yonhap
Creditors of Pantech Co., South Korea's No. 3 handset maker, said Sunday they have agreed to extend the deadline again for local mobile carriers to decide whether to join a debt-equity swap for the cash-strapped company.
Pantech's creditors, led by Korea Development Bank, last month decided to seek a debt-equity swap of 480 billion won (US$471 million) for the troubled company. They asked SK Telecom Co., KT Corp. and LG Uplus Corp. to join the program by chipping in 180 billion won by Monday.
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