The mystery behind SK Telecom's bid for Hanaro

At the end of a week of unpredictable developments, SK Telecom and the owners of Hanaro move ahead with the $1.2 billion deal.

After a week of uncertainty, the sellers of Hanaro now agree that the $1.2 billion deal with SK Telecom is set to go ahead.

As FinanceAsia reported, SK Telecom issued a statement on Monday saying it had signed a share purchase agreement SPA to buy 38.89% of Hanaro for a total of W1.09 trillion $1.2 billion.

But Hanaro Telecom, South KoreaƆs biggest broadband provider, surprised the market when it subsequently issued a statement to the Korea Stock Exchange...

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