Korea Zinc: Cross Shareholding Limitation System Loophole
The proxy battle at the EGM for the control of Korea Zinc (010130 KS) is scheduled for 23 January.
One day prior to the EGM, Korea Zinc's Chairman Choi is trying to capitalize on the "cross-shareholding limitation system" in order to retain control of the company.
In our view, it appears that the legal case regarding the cross shareholding limitation system is in favor of MBK/Young Poong alliance.
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