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Search results for comprehensive share swap

Games & Commerce

Naver-Dunamu merger hurdle eases as committee recommends amending enforcement decree

South Korea\'s Presidential Regulatory Reform Committee\'s growth subcommittee reviewed an enforcement decree revision to the Act on Reporting and Using Specified Financial Transaction Information on July 24 and recommended that the Financial Services Commission add an exception to fit-and-proper screening rules for major shareholders of virtual asset service providers. The recommendation could ease regulatory burdens raised during Naver\'s bid to acquire Dunamu. The revised law is set to take effect on Aug. 20.

Crypto

Mirae Asset clears Korbit takeover as Naver-Dunamu tie-up stalls

South Korea’s antitrust regulator approved Mirae Asset Consulting’s plan to buy a 92.06 percent stake in crypto exchange Korbit for about 133.4 billion won, citing Korbit’s low market share. A separate tie-up between Naver Financial and Dunamu has been delayed again, with Naver pushing back key dates. The article cites Upbit’s market dominance, financial regulatory approvals, potential scrutiny of user protection and AML systems, and possible future limits on major shareholders’ stakes.

Telecommunications & Media

SKT secures 100 percent stake in SKB, folds unit into wholly owned subsidiary

SK Telecom has folded SK Broadband into a wholly owned subsidiary after securing a 100 percent stake through a comprehensive share swap, a filing showed. SKT previously held 99.24 percent and acquired the remaining 3,039,090 common shares. Share buyback rights exercised by SKB shareholders amounted to 27,408 common shares worth 411,990,000 won, which were cancelled. SKT said it expects improved decision-making and a more efficient management system.