HYBE Confirms It Is Considering The Acquisition Of A Stake In SM Entertainment
HYBE announced it is considering buying shares of SM Entertainment.
On February 9, in response to market inquiries, HYBE confirmed it is currently looking into the purchasing shares of the company.
We are continuously reviewing matters related to purchasing SM Entertainment shares through the open market as well as acquiring shares. At this time, there are no confirmed matters.
The label then stated that it would “Release another announcement after reviewing the matters related to (the purchase) in detail, or within a month.”
The news is a blow to Kakao, which has been working with the company’s management executives and recently purchased a large share in the company, although Lee Soo Man is disputing the legitimacy of the sale of shares.
Lee Soo Man Is Going To Sue SM Entertainment For Illegal Business
Stay tuned for updates.