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SK buys 30% stake in CJ Hellovision for KRW 500 bln

Monday 2 November 2015 | 12:17 CET | News
South Korean operator SK Telecom will acquire a 30 percent stake in cable channels and internet TV services provider CJ Hellovision from CJ O Shopping for KRW 500 billion (approximately USD 438.2 million), Yonhap news agency reports. SK Telecom also plans to acquire the remaining 25.3 percent stake in the cable provider through call and put options agreements. SK Telecom said CJ Hellovision will merge with the operator's subsidiary SK Broadband, in which SK Telecom will own a 75.3 percent stake in total once the acquisition process is completed by April 2016.

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Categories: Broadcast & Satellite / Internet
Companies: SK Broadband / SK Telecom
Countries: Korea, Republic of
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