SEOUL (Reuters) - South Korean telecommunications firm SK Telecom Inc (017670.KS) said on Friday it seeks to acquire the remaining 49.4 percent stake in internet services provider SK Broadband 033630.KQ via a share swap offer valued at 706 billion won ($627.17 million).
SK Telecom said in a regulatory filing that it plans to offer 2.47 million treasury shares in exchange for SK Broadband shares it does not hold. SK Telecom has a 50.6 percent stake in SK Broadband.
SK Broadband investors can also sell their shares to SK Telecom for 4,645 won ($4) per share, SK Telecom said.
($1 = 1,125.7000 won)
Reporting by Se Young Lee; Editing by Subhranshu Sahu