South Korean shipbuilding giant STX Group
South Korean shipbuilding giant STX Group and top mobile carrier SK Telecom Co. said Friday they submitted preliminary bids to buy a major stake in Hynix Semiconductor Inc. worth at least 2.4 trillion won (US$ 2.3 billion).
Creditors of Hynix are seeking to unload their 15 percent stake in the world’s second-largest computer memory chip maker. They finished receiving letters of intent from prospective buyers at 4 p.m.
STX Group, the 12th-largest conglomerate in South Korea, said its move to buy the chipmaker aims to diversify its business portfolio, which largely focuses on shipbuilding and shipping.
The group also said it is considering setting up a consortium with a sovereign wealth fund in the Middle East in a bid to purchase Hynix.
SK Telecom said its participation in the race to take over Hynix is designed to find new opportunities for overseas expansion and to seek business synergy by converging chipmaking and telecommunications businesses.
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