SK Telecom to Sell Entire Kakao Stake Worth 410 Billion Won: "Securing Investment Funds, Improving Finances"

SK Telecom announced on April 25 that it will sell its entire stake in Kakao, valued at 413.3 billion won, through a block deal (off-hours large-scale transaction). The transaction is scheduled to be completed before the market opens on the same day.

The number of shares to be sold is 10,818,510. The company stated that the purpose of the sale is to secure funds for future growth investments and to improve its financial structure.

Previously, in October 2019, SK Telecom exchanged shares worth 300 billion won with Kakao and established a strategic partnership. This strategy was aimed at strengthening global competitiveness and leading the future information and communications technology (ICT) industry.