the-mystery-behind-sk-telecoms-bid-for-hanaro

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 KoreaÆs biggest broadband provider, surprised the market when it subsequently issued a statement to the Korea Stock Exchange denying that any such SPA had been signed with SK Telecom.

The shares, which represent a controlling interest in Hanaro, are currently owned by a consortium of private equity investors comprising American International Group AIG...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222