Korean antitrust watchdog rejects SKT's bid to take over No. 1 cable TV operator
Jul 18, 2016
Korea's antitrust watchdog on Monday said it has rejected SK Telecom Co.'s bid to buy the country's leading cable TV operator, raising concerns that the merger would undermine competition in the market.SK Telecom, the top mobile carrier with a market share of more than 50 percent, agreed to acquire a 53.9 percent stake in CJ HelloVision Co. from its parent firm CJ O Shopping, an affiliate of CJ Group, for 1 trillion won ($870 million) in November last year.SK Telecom said it seeks to become an a