The buyers include E-Mart, the largest physical retailer in the country, and the internet portal Naver, according to the Financial Times.
(Bloomberg) -- SK Telecom Co., South Korea’s largest mobile carrier, wants to shed its staid image and take on a more dynamic role as an investor in tech startups à la SoftBank Group Corp.Armed with a $5 billion budget for acquisitions over the next three years, the company is setting out to find the next Coupang Inc., the Korean e-commerce giant whose massive initial public offering fueled SoftBank’s record profit last quarter. About $2 billion of that will come from the proceeds of planned IPO
Ebay is set to sell its South Korea business to a local consortium for $3.1bn, according to people with knowledge of the matter, as rivals seek to turn up the heat on SoftBank-backed Coupang in the world’s fourth-largest ecommerce market. The consortium, which consists of South Korea’s biggest bricks-and-mortar retailer E-Mart and internet group Naver, plans to buy an 80 per cent stake in eBay Korea for Won3.5tn ($3.1bn) with the US company retaining the remainder, said the people. The purchase could help the consortium to overtake fast-growing Coupang, which raised $4.6bn in an initial public offering in New York in March to become the biggest player in South Korea’s highly competitive ecommerce market.