SK Telecom, Kakao swap shares in R&D alliance - Mobile World Live

SK Telecom, Kakao swap shares in R&D alliance

28 OCT 2019

The largest mobile operator in South Korea, SK Telecom (SKT), and the leading messenger provider, Kakao, agreed a share-swap arrangement as part of a strategic alliance to collaborate across a range of sectors.

Under the agreement, SKT will sell KRW300 billion ($256 million) worth of shares to Kakao and acquire newly issued Kakao shares valued at the same amount. The transaction, scheduled for 5 November, will give SKT a 2.5 per cent interest in Kakao, which will take a 1.6 per cent stake in SKT.

The companies agreed to work closely in mobile network operations, e-commerce, digital content and future ICT. They will first establish a synergy committee led by Ryu Young-sang, head of SKT’s MNO division, and Yeo Min-soo, co-CEO of Kakao.

In a statement, SKT said the companies aim to improve customer experience by combining its mobile service with Kakao’s messenger platform. They also plan to cooperate in specialised services for 5G.



Joseph Waring

Joseph Waring joins Mobile World Live as the Asia editor for its new Asia channel. Before joining the GSMA, Joseph was group editor for Telecom Asia for more than ten years. In addition to writing features, news and blogs, he...

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