ID :
193682
Fri, 07/08/2011 - 10:54
Auther :
Shortlink :
https://oananews.org//node/193682
The shortlink copeid
SK Telecom submits bid for Hynix stake
SEOUL, July 8 (Yonhap) -- SK Telecom Co., South Korea's largest mobile operator, said Friday that it submitted a preliminary bid for a major stake in Hynix Semiconductor Inc. as part of efforts to diversify its business portfolio.
SK Telecom, which controls about half of South Korea's mobile market, said in a press release that it presented a letter of intent to buy the world's No. 2 memory chip maker to secure a future growth engine and seek overseas business opportunities.
"With the semiconductor business, which is expected to continue to grow thanks to the spread of smartphones, tablet PCs and smart TVs, we will be able to become a global company," the statement said.
South Korea's mobile carriers have been struggling to launch overseas businesses, as stiff competition in the domestic wireless market and a high mobile penetration rate leave little room for further expansion.
Investors remained skeptical about the mobile carrier's decision to break into the semiconductor sector. Shares of SK Telecom closed at 149,500 won on the Seoul bourse, down 3.24 percent from the previous session.
SK Telecom, which controls about half of South Korea's mobile market, said in a press release that it presented a letter of intent to buy the world's No. 2 memory chip maker to secure a future growth engine and seek overseas business opportunities.
"With the semiconductor business, which is expected to continue to grow thanks to the spread of smartphones, tablet PCs and smart TVs, we will be able to become a global company," the statement said.
South Korea's mobile carriers have been struggling to launch overseas businesses, as stiff competition in the domestic wireless market and a high mobile penetration rate leave little room for further expansion.
Investors remained skeptical about the mobile carrier's decision to break into the semiconductor sector. Shares of SK Telecom closed at 149,500 won on the Seoul bourse, down 3.24 percent from the previous session.
