SK Telecom, the South Korean mobile operator, has no intention to further raise its stake in Hynix Semiconductor, Ahn Seung-Yun, CFO of SK Telecom, said.
Late last year, SK Telecom acquired a 21.05% stake in Hynix for W3.4 trillion (US$3.007bn) after a…
SK Telecom, the South Korean mobile operator, has no intention to further raise its stake in Hynix Semiconductor, Ahn Seung-Yun, CFO of SK Telecom, said.
Late last year, SK Telecom acquired a 21.05% stake in Hynix for W3.4 trillion (US$3.007bn) after a months-long bidding process.
In early April a press report claimed that a minority shareholder in Hynix, Posco, is looking to sell its 2.9% stake for W321bn (US$283.9m). Bank of America Merrill Lynch, Samsung Securities and UBS were mentioned as banks working for Posco on the stake disposal.
SK Telecom CFO Seuny-Yun told analysts now that the company would not increase its investment in Hynix as long as management control over the company is secured, according to Reuters.
