S.Korea's YG Entertainment may sell stake

SEOUL Wed Aug 13, 2014 4:52am EDT

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)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.