Home

The Korea Herald

Latest news

Most Popular

  1. 1

    Now is no time to add pressure on businesses: top executives

    Now is no time to add pressure on businesses: top executives
  2. 2

    CJ CheilJedang to spur overseas growth with new Hungary, US plants

    CJ CheilJedang to spur overseas growth with new Hungary, US plants
  3. 3

    Seoul to host winter festival from Dec. 13

    Seoul to host winter festival from Dec. 13
  4. 4

    Nationwide rail disruptions feared as union plans strike from Dec. 5

    Nationwide rail disruptions feared as union plans strike from Dec. 5
  5. 5

    Blackpink's solo journeys: Complementary paths, not competition

    Blackpink's solo journeys: Complementary paths, not competition
  1. 6

    N. Korea, Russia court softer image: From animal diplomacy to tourism

    N. Korea, Russia court softer image: From animal diplomacy to tourism
  2. 7

    [Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts

    [Today’s K-pop] Blackpink’s Jennie, Lisa invited to Coachella as solo acts
  3. 8

    Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid

    Smugglers caught disguising 230 tons of Chinese black beans as diesel exhaust fluid
  4. 9

    Actor Song Joong-ki welcomes second child in Rome

    Actor Song Joong-ki welcomes second child in Rome
  5. 10

    Korean Air offers special flights for mileage users

    Korean Air offers special flights for mileage users
지나쌤

FTC refuses to delay decision on SK-CJ merger

By Korea Herald

Published : July 8, 2016 - 11:05

    • Link copied

[THE INVESTOR] The Fair Trade Commission has refused CJ HelloVision’s request to delay its decision on the planned merger and acquisition deal with SK Broadband, an IPTV firm run by SK Telecom.

FTC officials told Herald Business and The Investor that they would not be pushing back the schedule. 


SK Group headquarters in central Seoul SK Group headquarters in central Seoul

Last week, the regulator handed down a preliminary decision to CJ and SK, saying that it opposes the merger, as it could hamper fair market competition by unleashing an excessively-dominant player.

CJ and SK were both asked to submit reports by July 11 to respond to the decision.

But on July 7, CJ HelloVision issued a statement asking the regulator to postpone both the report deadline and a standing committee meeting scheduled for July 15 where the FTC was to reach a conclusion on the M&A.

The Science Ministry will make the final decision, but government sources there have been few cases where it has opposed the FTC’s initial decision.

By Kim Young-won (wone0102@heraldcorp.com)

More from Headlines