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FINWIRES

SK Telecom, SK Inc. to Acquire Stake in SK Hynix NAND Product Solutions

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SK Telecom (KRX:017670) and SK Inc. (KRX:034730) will each acquire 642 shares in SK Hynix (KRX:000660) subsidiary SK Hynix NAND Product Solutions for 397.1 billion won in cash, according to a Monday filing with the Korea Exchange.

The investment will give SK Telecom and SK Inc. a 0.62% stake each in SK Hynix NAND Product Solutions. The acquisitions are scheduled to be concluded on July 23, the filing said.

Shares of SK Hynix fell nearly 2% at market close, while those of SK Inc. declined about 4%.

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