March 20, 2015 / 9:46 AM / 4 years ago

SK Telecom offers to acquire rest 49.4 percent stake in SK Broadband

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

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