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CJ HelloVision asks watchdog to postpone decision on M&A with SK Broadband
By Kim Young-wonPublished : July 8, 2016 - 10:43
[THE INVESTOR] Cable TV operator CJ HelloVision has sought the antitrust regulator’s permission to delay a meeting for deciding on its planned merger and acquisition deal with SK Broadband, a local IPTV firm.
To that end, it also said it would like to delay submitting a report on the matter.
“We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is too tight for the firm to prepare the report.
Originally, both CJ and SK Telecom -- the parent firm of SK Broadband -- were to issue reports to the FTC by July 11 in response to the watchdog’s preliminary decision last week to oppose the M&A on the grounds that it could hamper fair market competition.
On July 15, the watchdog was to hold a standing committee meeting where it could reach a conclusion on the deal.
If the FTC OKs the deal, the issue will be forwarded to the Science Ministry for final approval.
By Kim Young-won (wone0102@heraldcorp.com)
To that end, it also said it would like to delay submitting a report on the matter.
“We have asked the Fair Trade Commission to postpone its July 15 standing committee meeting by a month, and the report deadline to Aug. 4,” CJ HelloVision said in a statement, stressing that the schedule is too tight for the firm to prepare the report.
Originally, both CJ and SK Telecom -- the parent firm of SK Broadband -- were to issue reports to the FTC by July 11 in response to the watchdog’s preliminary decision last week to oppose the M&A on the grounds that it could hamper fair market competition.
On July 15, the watchdog was to hold a standing committee meeting where it could reach a conclusion on the deal.
If the FTC OKs the deal, the issue will be forwarded to the Science Ministry for final approval.
By Kim Young-won (wone0102@heraldcorp.com)
