Technology Industry
Industry: Email Alert RSS FeedSK telecom marriage to SK Shinsegi Telecom hits 11th-hour snag. (News).
RCR Wireless News, January, 2002
NEW YORK--The planned Jan. 5 completion of the merger between SK Telecom and SK Shinsegi Telecom, which together control 52 percent of South Korea's mobile-phone customers, hit a roadblock at the 11th hour. At its Dec. 29 meeting to review the transaction, the policy committee of the Federal Information and Communications Ministry said its members need additional time to evaluate the market impact.
The committee expects to meet again sometime in January, The Korea Herald reported. The Fair Trade Commission, South Korea's antitrust agency, approved SK Telecom's acquisition of a 51 percent stake in Shinsegi in April 2000, provided the two carriers reduced their collective market share below 50 percent by the end of June 2000. By August 2001, SK...
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