Hon Hai Makes Korean Inroads With SK Group Purchase

July 3, 2014 | Print | Comments | Category: Business, Telecom & Wireless










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Hon Hai Group has purchased 2.45 million shares of SK C&C, a subsidiary of South Korea's SK Group, representing a shareholding of 4.9%.

Hon Hai published a report, stating that as a long-term investment, its subsidiary Best Leap Enterprises Limited acquired 2.45 million shares of SK C&C, with the price of KRW155,500 per share. The total trading value was KRW380.975 billion, which was about CNY2.34 billion.

With the acquisition, Hon Hai Group will become the second largest shareholder of SK C&C and the company will have the opportunity to implement extensive cooperation with SK Telecom in the future.

As a subsidiary of SK Group, SK C&C specializes in communications service platform solutions. Its applications cover various industries, including finance, telecom, energy, logistics, media, education, and health; and its products include e-commerce platforms, SIM cards, energy management, storage systems, corporate mobile platforms, and cloud computing solutions.





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