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AUSTRALIA'S MACQUARIE, S KOREA'S MBK AQUIRE 61% OF CABLE CO C&M.
SEOUL, Dec 3 Asia Pulse - An Australian banking giant and a South Korean private equity fund jointly bought more than a 60 per cent stake in South Korea's second-largest cable TV operator, sources said Friday.
Macquarie Bank (ASX:MBL) and MBK Partners, one of the most active funds in South Korea, acquired a 61.17 per cent stake in C&M from its chairman Lee Min-joo and his wife, one of the sources said to Yonhap News Agency, declining to be named. The stake is worth about 1.4 trillion won (US$1.52 billion), according to the source.
C&M yields revenue of about US$343 million from South Korea's two million cable TV subscribers as well as advertising, home shopping and high-speed data services, according to a Moody's Investors Service ...
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Source: HighBeam Research, AUSTRALIA'S MACQUARIE, S KOREA'S MBK AQUIRE 61% OF CABLE CO C&M.