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SK Telecom bids for remaining 49.4% stake in SK Broadband

2015-03-20 11:11:00| Telecompaper Headlines

(Telecompaper) South Korean operator SK Telecom plans to acquire the remaining 49.4 percent stake in internet services provider SK Broadband. SK Telecom launched a share swap offer valued at KRW 706 billion (approximately USD 627.17 million). SK Telecom plans to offer 2.47 million treasury shares in exchange for SK Broadband shares it does not currently own, Reuters reports, citing an SK Telecom regulatory filing. SK Telecom currently holds a 50.6 percent stake in SK Broadband. According to SK Telecom, SK Broadband investors can also sell their shares to SK Telecom for KRW 4,645 per share.

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