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SK Telecom, Kakao strike KRW 300 bln stock swap deal

Monday 28 October 2019 | 07:32 CET | News
South Korean operator SK Telecom and Korean mobile internet group Kakao have signed a partnership agreement including a KRW 300 billion stock swap transaction. SK Telecom will purchase 2.18 million new shares of Kakao with its treasury sharers (1.27 million shares). Following the transaction, SK Telecom will own a 2.5 percent stake in Kakao, and Kakao will hold 1.6 percent of SK Telecom.

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Categories: Mobile & Wireless
Companies: Kakao / SK Telecom
Countries: Korea, Republic of
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