S.Korea's YG Entertainment may sell stake
SEOUL Aug 13 (Reuters) - South Korea's YG Entertainment Inc on Wednesday said it is considering selling a stake in itself or various other forms of securing investment or partnerships from third parties, but nothing has been decided.
The company, which submitted a regulatory filing, did not give further details. A YG spokeswoman could not be reached.
Shares of YG, the management agency of Korean rapper Psy, rose 14.9 percent on Wednesday, outpacing a 1.1 percent rise for the junior KOSDAQ index following local media reports that a funding arm of LVMH is in talks to invest around 100 billion won ($97.32 million) in YG.
(1 US dollar = 1,027.5000 Korean won) (Reporting by Se Young Lee and Joyce Lee; Editing by Matt Driskill)
- Exclusive: Angry with Washington, 1 in 4 Americans open to secession
- Scots spurn independence in historic vote, devolution battle begins |
- Eight bodies found after attack on Guinea Ebola education team
- Alibaba surges 38 percent on massive demand in market debut |
- Special Report: Scotland stays in UK, but Britain faces change