20.03.2015 13:35:27

SK Telecom Plans To Buy Remaining 49.4% Stake In SK Broadband

(RTTNews) - SK Telecom Co. (SKM), which provides wireless telecommunications services, said that it has decided to buy the remaining 49.4 percent stake in SK Broadband Co., a landline and wireless Internet services provider, through the swap offer valued at 706 billion won.

The deal will be conducted through a stock swap at 1 to 0.0168936 ratio. Shareholders who do not want the share swap can sell their stocks at 4,645 won per share until May 5.

SK Telecom currently owns 50.6 percent of SK Broadband.

If approved by SK Telecom's board and by SK Broadband's shareholders, the stock swap will be completed by June 9.

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