SK Telecom Co., Ltd. (KOSE:A017670) entered into a share purchase agreement to acquire 34.7% stake in Incross Co., Ltd. (KOSDAQ:A216050) from NHN Entertainment Corp. (KOSE:A181710) for KRW 53.5 billion on April 10, 2019. SK Telecom will acquire 2.8 million shares for cash. The consideration may be subject to change depending on the results of Incross' due diligence after the date of the agreement. The agreement may be terminated if the parties fail to agree on such resulting change in the acquisition amount. The scheduled date of payment of the acquisition is June 18, 2019. As of June 3, 2019, the scheduled date of payment of the acquisition amount was amended from June 18, 2019 to June 28, 2019.

SK Telecom Co., Ltd. (KOSE:A017670) completed the acquisition of 34.7% stake in Incross Co., Ltd. (KOSDAQ:A216050) from NHN Entertainment Corp. (KOSE:A181710) on June 28, 2019. Three internal directors, three outside directors and three audit committee members have been appointed at an extraordinary general meeting of shareholders on June 28, 2019. The transaction was resolved by the directors of Incross on April 10, 2019.