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SK Telecom: CJ HelloVision acquisition a win-win

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SK Telecom: CJ HelloVision acquisition a win-win

South Koreatelco SK Telecom Co. Ltd.remains steadfast in continuing its plans to acquire pay TV provider , and told The Korea Times in a statement May 9 thatthe deal will in fact revitalize the market, positively challenging industry playersto grow and help improve industry performance.

SK Telecom couldspend approximately 1 trillion South Korean won, as it is looking at initially spending500 billion won to secure CJ O Shopping's30% stake in CJ HelloVision and eventually purchasing the parent company's remaining23.9% stake through calls and puts.

Three governmentauthorities are reviewing the proposed acquisition and have the power to approveor reject the deal, namely South Korean anti-trust regulator Fair Trade Commission,the Korea Communications Commission and the Ministry of Science, ICT and FuturePlanning. There has been a delay in the release of a decision, as the proposed acquisitionhas received strong oppositionfrom lawmakers, civic groups and competitor companies.

As of May 10, US$1 was equivalent to 1,171.15 SouthKorean won.