LS Cable Plans to Purchase Up To 70 Billion Won of Gaon Cable - Will It Take It Private?
On 22 April, LS Cable & System announced that it plans to acquire up to 70 billion won worth of Gaon Cable.
If LS Cable purchases 70 billion won worth of Gaon Cable's shares (7.4% stake at current price), its stake in the company would rise to 89%.
There are numerous options for Gaon Cable going forward including privatization or a merger with LS Cable.
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