WAKEFIELD, Mass., Aug. 19 (Korea Bizwire) — Xura, Inc. (NASDAQ:MESG), a leading provider of digital communications services, today announced the completion of its acquisition by affiliates of Siris Capital Group, LLC (“Siris” or “Siris Capital”) in a transaction reflecting an equity value of approximately $643 million. The transaction, which was initially announced on May 23, 2016, [...]
SEOUL, July 29 (Korea Bizwire) – Though the South Korean government quashed SK Telecom’s attempt to take over CJ HelloVision, one of Korea’s leading telecommunications companies is still stepping up to shift its strategy to a ‘digital platform’. SK Telecom had proposed acquiring the nation’s largest cable TV operator, CJ HelloVision, and then merge it with [...]
NEW YORK, Jul. 18 (Korea Bizwire) — Helios and Matheson Analytics Inc. (Nasdaq:HMNY) announced today that it has filed a universal shelf registration statement on Form S-3 with the Securities and Exchange Commission (“SEC”). Under the shelf registration, once it is declared effective by the SEC, HMNY may offer and sell, from time to time, [...]
SEOUL, Feb. 26 (Korea Bizwire) - Shareholders of CJ Hellovision Co., South Korea’s top operator of cable channels and Internet TV content, approved a proposed merger with the country’s No. 1 mobile carrier on Friday amid controversy about its legality. Around 97 percent of the shareholders attended the shareholder meeting voted for the merger proposal, which [...]
SEOUL, Feb. 26 (Korea Bizwire) – U.S. hedge fund Elliott Associates denied allegations Friday over a possible breach of local disclosure rules regarding Samsung C&T Corp., stressing a series of processes for its Samsung stake purchase were “perfectly legal.” Elliott made the claim ahead of a prosecution probe on suspicions that it illegally “parked” its [...]
SEOUL, Feb. 24 (Korea Bizwire) - South Korea’s financial authorities on Wednesday referred U.S. hedge fund Elliott Associates to state prosecutors for allegedly violating local disclosure rules when it tried to prevent a merger of two Samsung Group affiliates last year. The Securities and Futures Commission said Elliott abused the total return swap (TRS) system to [...]
SEOUL, Feb. 12 (Korea Bizwire) - CJ Hellovision Co., South Korea’s top operator of cable channels and Internet TV content, said Friday it plans to hold a shareholder meeting later this month to approve a proposed merger plan. SK Telecom Co., the country’s top mobile operator, agreed to buy CJ Hellovision in November of last year, [...]
SEOUL, Nov. 9 (Korea Bizwire) – South Korean tech behemoth Samsung Group’s governance structure has been simplified by a series of mergers and asset sales, industry watchers said Monday, with the owner family solidifying its grip over the country’s No. 1 conglomerate. Samsung C&T Corp. was created in September as the group’s holding firm, which [...]
SEOUL, Oct. 1 (Korea Bizwire) — When Kakao Corp. launched its mobile chat application KakaoTalk in South Korea in early 2010, what lured users most was the fact that it was free. Until then, sending and receiving text messages via a phone had been considered something that you had to pay for. The instant messenger, [...]
SEOUL, Jul. 23 (Korea Bizwire) — South Korea’s top financial regulator on Wednesday gave preliminary approval for the merger of two flagship banks of Hana Financial Group Inc., the country’s third-largest banking group by assets. Hana Financial had been pushing for the merger between Hana Bank and Korea Exchange Bank (KEB) since its acquisition of [...]