Hybe to Sell Entire Stake in SM Entertainment to China’s Tencent
SEOUL, May 27 (Korea Bizwire) – K-pop powerhouse Hybe said Tuesday it will sell its entire stake in rival SM Entertainment to China’s Tencent for 200 billion won (US$145.5 million). In a regulatory filing, Hybe said it will dispose of 2,212,237 shares of SM Entertainment, which represents a 9.38 percent stake in the company. The [...]