GAON Cable Co., Ltd. (KOSE:A000500) agreed to acquire an additional 54.2% stake in MOBO Co., Ltd. from LS Cable & System Ltd. for KRW 8 billion on August 20, 2013. GAON Cable will acquire 13.8 million shares of MOBO Co. at KRW 580 per share.

On completion, GAON Cable Co., Ltd. will hold 90.3% stake. The transaction is resolved by Board of Directors of LS Cable & System Ltd. on August 20, 2013. The transaction is expected to be completed on August 21, 2013.