Business Services Industry
KEY EVENTS IN THE FIGHT FOR CONTROL OF KOREA'S HANARO TELECOM.
AsiaPulse News, October, 2003
SEOUL, Oct 21 Asia Pulse - Key events in the battle for control of Hanaro Telecom (KSE:33630):
- March 28: Hanaro Telecom Inc. CEO Shin Yun-shik steps down amid clashes with the company's top shareholder LG Group.
- June 24: Hanaro's board delays the approval of a US$450 million investment deal offered by a consortium of foreign investors led by American International Group and Newbridge Capital.
- July 1: LG offers a new share issue plan worth 500 billion won ($423 million) to thwart the AIG-Newbridge deal.
- July 3: Hanaro's board rejects the AIG-Newbridge offer, owing to opposition from LG.
- July 8: Hanaro's board approves the LG proposal.
- Aug. 5: Hanaro shareholders vote against the LG offer, owing to...
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