Korea could miss out on one of the year's most anticipated corporate deals after the antitrust regulator on Tuesday rejected the proposed merger between SK Telecom and CJ Hellovision.
Voicing concerns that it would hamper competition in the telecommunications industry, Korea’s Fair Trade Commission FTC gave the thumbs down on the grounds that it would give SK monopoly-like status and excessive pricing power.
The potential W1 trillion $865 million deal to merge SK Telecom, Korea’s largest mobile operator with a 50% market share, with the country’s biggest cable TV operator CJ Hellovision would have created an industry behemoth.
The FTC decision,...
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