(Seoul=NSP News Agency) Jiye Kim Journalist = South Korea’s No.1 mobile carrier SK Telecom, announced at a board meeting held on November 2 that it will buy CJ Hellovision, the nation’s biggest cable channel provider. According to the contract, SK takes over a 30 percent stake for 500 billion won in CJ Hellovision from its parents firm CJ O Shopping.
SK Telecom plans to merge SK Broadband and CJ Hellovision, after obtaining the remaining 23.9 percent stake of Hellovision in CJ O shipping through call and put option agreements. The exchange ratio of CJ Hellovision shares and SK Broadband shares is fixed at 1:0.4756554. SK Telecom will own a 75.3 percent stake while CJ O Shopping own 8.4 percent of the merged entity of two firms.
Once the acquisition process is completed, SK Broadband will be amalgamated with a listed company CJ Hellovision, and be backdoor listed. The merger is set to be finalized in April 2016.
SK Telecom plans to merge SK Broadband and CJ Hellovision, after obtaining the remaining 23.9 percent stake of Hellovision in CJ O shipping through call and put option agreements. The exchange ratio of CJ Hellovision shares and SK Broadband shares is fixed at 1:0.4756554. SK Telecom will own a 75.3 percent stake while CJ O Shopping own 8.4 percent of the merged entity of two firms.
Once the acquisition process is completed, SK Broadband will be amalgamated with a listed company CJ Hellovision, and be backdoor listed. The merger is set to be finalized in April 2016.
![[NSPAD]LG그룹](https://file.nspna.com/ad/T01_lgfuture_5298.gif "LG그룹[T01]")
![[NSPAD]삼성전자](https://file.nspna.com/ad/T01_samsung_5043.gif "삼성전자[T01]")