Arab Today, arab today sk telecom stx fall on hynix bid plans
Last Updated : GMT 05:52:01
Arab Today, arab today
Arab Today, arab today

SK Telecom, STX fall on Hynix bid plans

Arab Today, arab today

Arab Today, arab today SK Telecom, STX fall on Hynix bid plans

Seoul - Arabstoday

SK Tele-com, South Korea\'s largest mobile-phone operator, and units of shipping magnate Kang Duk Soo\'s STX Group fell in Seoul trading after they disclosed plans to bid for Hynix Semiconductor. SK Telecom, the phone unit of billionaire Chey Tae Won\'s SK Group, retreated 3.7 per cent to 144,000 won, falling for a fifth day to the lowest closing level since March 2003. STX Offshore & Shipbuilding lost 4 per cent, while STX and STX Engine both fell 2.9 per cent. Morgan Stanley cut its stock rating on SK Telecom yesterday, underscoring a concern the nation\'s business groups are reviving over-expansion practices that led to a financial crisis in the late-1990s. Boom-and-bust cycles Article continues below The biggest sale of a Korean technology asset since 1999 will pit Chey against Kang for control of the world\'s second-largest maker of computer-memory chips — a sector marked by boom-and-bust cycles and billions of dollars in investments each year. \"Investors are worried about the deal given the target offers no foreseeable synergies for either bidder,\" said Im Jeong Jae, a Seoul-based fund manager at Shinhan BNP Paribas Asset Management, which oversees about $29 billion. \"Sentiment on those stocks will be weak until a decision\" on the successful bidder, he said. SK Telecom and STX Group said July 8 they submitted letters of interest. Korea Exchange Bank, which is leading the financial institutions seeking to unload their 2.4 trillion won (Dh8.3 billion) Hynix stake, said it expects to receive final bids by the end of August and sign a deal by year-end. Daiwa Securities Group last week cut its share-price estimate on SK Telecom by 6.1 per cent to 162,500 won, and Daishin Securities yesterday reduced its stock-price projection by 15 per cent to 200,000 won. While supporters praise the family-run Korean business groups known for pulling the country out of poverty after the 1950-1953 Korean War, the International Monetary Fund cited the debt-driven model as part of the reason the nation\'s economy landed in a financial crisis at the end of 1997. The stake of about 15 per cent being sold would make the buyer the biggest shareholder in the chipmaker. The disposal would also be the largest share sale of a Korean technology company since July 1999.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sk telecom stx fall on hynix bid plans Arab Today, arab today sk telecom stx fall on hynix bid plans

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars

GMT 06:57 2017 Sunday ,26 February

Huawei wins MRM Business Innovation Award

GMT 08:49 2017 Saturday ,25 February

Shell plans $300 mn investment in Argentina shale

GMT 05:40 2017 Saturday ,25 February

British Airways owner reports profit

GMT 15:19 2017 Thursday ,23 February

Companies' commitment to Bahrainisation quotas praised

GMT 14:48 2017 Thursday ,23 February

Etihad Airways Engineering signs deal with Kenya Airways

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 05:41 2017 Monday ,27 February

Phone firms turn to AI at top mobile fair
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday