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Korean telco SK Telecom is to acquire the country’s largest cable MSO CJ HelloVision as it seeks to extend its involvement in the media platform business.
SK Telecom will take over a 30 per cent stake for 500 billion won (€400m) in CJ HelloVision from its parent firm CJ O Shopping, with plans to buy the remaining 25.3 per cent stake through call and put options agreements.
SK Telecom said CJ HelloVision will merge with the carrier’s wholly owned subsidiary SK Broadband Co., in which SK Telecom will own a 75.3 per cent stake in total once the acquisition process is completed by April next year.
CJ HelloVision had 4,104,932 cable subscribers at the end of Q2 2015.