SK Telecom Eyes Chinese Gaming Companies

5617.com, 3/20/08

A source close to SK Telecom has revealed that the company "has established a special working group for negotiating acquisition of 3-4 Chinese online gaming companies which have either listed or are preparing to list on the Hong Kong market." The source added, "Due to recent depression in the mainland China and Hong Kong stock markets, negotiation of acquisitions has become easier, and Chinese companies are showing more interest than they had at the height of the bubble."

Editor's Note: SK Telecom is actively pursuing acquisitions in the Chinese telecom, IT, and media markets. Earlier this month, the company acquired a 42% stake in Chinese record label Taihe Rye Music (see "SK Telecom Buys 42% of Taihe Rye Music", MD 3/05/08 issue.)

Keywords: M&A online gaming Internet music online gaming record label SK Telecom Taihe Rye telecom

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