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Monday, November 14, 2011
SK Telecom to Buy Hynix

SK Telecom Co., South Korea's top mobile operator, said Monday it will pay 3.43 trillion won (US$3.06 billion) for a 21.05 percent stake in Hynix Semiconductor Inc.

SK Telecom said in a regulatory filing that it will buy 44.25 million existing shares and 101.85 million new shares from creditors of the world's second-biggest memory chipmaker.

Hynix's board agreed to set the price of new shares at 23,000 won each as part of the deal, which is pending regulatory approval.

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