SK Telecom announced on the 14th that it has completed the acquisition of equity to fully incorporate SK Broadband as a wholly owned subsidiary.
SK Broadband disclosed that the equity ownership of SK Telecom increased from the previous 74.38% to 99.14% on that day.
SK Telecom entered into a stock transfer agreement to acquire the entire 24.8% equity stake held by Taekwang Group, Mirae Asset Group, and others in SK Broadband last November. At that time, the equity stakes held by Taekwang Group and Mirae Asset Group were 16.75% and 8.01%, respectively.
To purchase this equity, SK Telecom sold its entire stake in Kakao, amounting to 413.3 billion won, through an after-hours block deal last month.
With the completion of the equity acquisition, SK Broadband has been effectively incorporated as a wholly owned subsidiary of SK Telecom.
SK Telecom plans to strengthen competitiveness in its business areas, including wired and wireless communications, broadcasting, enterprise services, data centers, and undersea cables, by enhancing synergy with SK Broadband.