Reuters: Mergers News: SK Tel not planning to fund SK hynix's potential Elpida buy

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

SK Tel not planning to fund SK hynix's potential Elpida buy May 2nd 2012, 08:32 SEOUL | Wed May 2, 2012 4:32am EDT SEOUL May 2 (Reuters) - SK Telecom Co, South Korea's top mobile carrier, is not expecting to fund the potential acquisition by its affiliate SK hynix of Japan's troubled Elpida Memory, SK Telecom's chief financial officer said on Wednesday. "SK hynix will make a prudent decision on Elpida after thorough due diligence. Should they decide to bid for Elpida, we expect SK hynix to secure its own financing rather than seeking acquisition funding from us," SK Telecom CFO Ahn Seung-Yun told analysts. SK Telecom, which owns 21.05 percent of SK hynix, also does not plan to further increase its stake in the company as long as it can exercise management control over the world's second-largest computer memory chipmaker, Ahn said.

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