[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom.
FTC officials told Herald Business and The Investor that they would not be pushing back the schedule.
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SK Group headquarters in central Seoul |
Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player.
CJ and SK were both asked to submit reports by July 11 to respond to the decision.
But on July 7, CJ HelloVision issued a statement asking the regulator to postpone both the report deadline and a standing committee meeting scheduled for July 15 where the FTC was to reach a conclusion on the M&A.
The Science Ministry will make the final decision, but government sources there have been few cases where it has opposed the FTC’s initial decision.
By Kim Young-won (
wone0102@heraldcorp.com)
