South Korean mobile operator SK Telecom may still face competition in its bid for a 20% stake in Hynix Semiconductor after shareholders in the chipmaker company decided to look for additional bids.
Korea Exchange Bank (KEB), which holds a 3.42% stake in…
South Korean mobile operator SK Telecom may still face competition in its bid for a 20% stake in Hynix Semiconductor after shareholders in the chipmaker company decided to look for additional bids.
Korea Exchange Bank (KEB), which holds a 3.42% stake in Hynix, said in a statement today that Hynix’s stock management council hoped to allow additional companies to bid for the stake.
SK Telecom had said on Monday that it was still reviewing whether to go ahead with its bid. This came after rival bidder STX Corp announced that it had withdrawn from the race for the Hynix stake. SK Telecom did not have additional comment today, in light of the latest developments..
A KEB spokesman said that the 20% stake on offer at Hynix would be made up of 6% of the company’s original stock and 14% that came through newly-issued shares.
He said that the final deadline for bids would be in October. Media reports have suggested that this would be on 24 October.
