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The Korea Herald
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THE INVESTOR
March 19, 2024

Industrials

SKT CEO stresses two-year effort to buy Toshiba

  • PUBLISHED :May 24, 2017 - 17:43
  • UPDATED :May 24, 2017 - 18:17
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[THE INVESTOR] SK Telecom CEO Park Jung-ho showed confidence in the ongoing race to take over cash-strapped Toshiba’s NAND flash unit on May 24.

“I have been working on the Toshiba deal for two years,” Park told reporters at the 2017 World IT Show at Coex in Samseong-dong, southern Seoul. “Since it is important to build trust with Japanese shareholders, considering their national sentiment, we had held many meetings with Toshiba shareholders.” 




Park, known as a merger and acquisitions expert within SK Group, has been supporting SK hynix to acquire Toshiba. He flew to Japan with SK Group Chairman Chey Tae-won last month to meet top brass at Toshiba. 

SK hynix announced Friday that it submitted its final bid for the Toshiba unit with a consortium partner in a regulatory filing. 

SK hynix’s partner is said to be US private equity fund Bain Capital. The SK consortium’s offer price is estimated to be around 1 trillion yen.  

“Even after making the final bid, there are many hard-core challenges in the Toshiba in Japan,” Park said. “It would take about one month to select a preferred bidder.”

“I think a company that has been doing the semiconductor business for long might be helpful to Toshiba,” he added. 

By Song Su-hyun/The Korea Herald (song@heraldcorp.com)

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