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SK Telecom, Kakao strike KRW 300 bln stock swap deal

2019-10-28 07:32:00| Telecompaper Headlines

(Telecompaper) 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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Category:Telecommunications

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