0
Broadband

SK Telecom denies plans to sell 11Street stake to Amazon

Monday 7 June 2021 | 10:20 CET | News
South Korean operator SK Telecom has denied recent media reports that it plans to sell a stake in its e-commerce unit 11Street to US retail giant Amazon, writes Yonhap news agency. Local media had earlier reported that Amazon will exercise its right to acquire a 30 percent stake in 11Street, and that the US retailer could acquire up to a 50 percent stake in the South Korean e-commerce company.

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Internet
Companies: Amazon / SK Telecom
Countries: Korea, Republic of
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

SK Telecom plans 'aggressive' investment strategy at spin-off company SK Square

Published 17 Aug 2021 11:44 CET | Korea, Republic of
SK Telecom announced the name SK Square for the new company created through the planned spin-off of its non-telecom activities. ...

SK Telecom's Q2 profit jumps 84% on increased gains from SK Hynix

Published 11 Aug 2021 07:37 CET | Korea, Republic of
South Korean operator SK Telecom posted revenue of KRW 4.818 trillion for the second quarter of 2021, which represents an ...

SK Telecom to spin off into two separate companies, launch stock split

Published 10 Jun 2021 15:22 CET | Korea, Republic of
South Korean operator SK Telecom has announced that its board of directors has approved the plan to split the company into SK ...

South Korea mobile shopping hits record KRW 24.79 trillion in Q1

Published 18 Jun 2020 08:48 CET | Korea, Republic of
Purchases made through mobile devices such as smartphones in South Korea reached a record high in the first three months of this ...

SK Telecom separates 11Street, SK Planet units

Published 20 Jun 2018 20:53 CET | Korea, Republic of
South Korean operator SK Telecom has decided to separate its subsidiary SK Planet into an e-commerce unit and a data services ...

Rakuten opens store on 11Street e-commerce marketplace

Published 01 Nov 2016 08:49 CET | Japan
Rakuten, operator of Japanese online shopping mall Rakuten Ichiba, has opened a Rakuten online flagship store on South Korean ...

11street partners with Taiwan's Uitox online marketplace

Published 15 Feb 2016 11:04 CET | Korea, Republic of
Korean online marketplace 11street has partnered with Uitox, an online marketplace in Taiwan to introduce 200 elite brands from ...

11street to launch e-mall in Malaysia on 24 April

Published 16 Apr 2015 15:17 CET | Malaysia
Korean online marketplace 11street will launch an e-mall in Malaysia on 24 April. The new online shopping site will enable ...