Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF APRIL 2019

Commission File Number: 333-04906

 

 

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

 

 

65 Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

Decision on Acquisition of Shares of Incross

On April 10, 2019, SK Telecom Co., Ltd. (the “Company”) entered into a share purchase agreement (the “Agreement”) with NHN Corporation, the largest shareholder of Incross Co., Ltd. (“Incross”), pursuant to which the Company will acquire shares of Incross.

 

1. Details of Incross    Company Name    Incross Co., Ltd.
   Country of Incorporation    Republic of Korea    Representative    Jaewon Lee
   Share Capital (Won)    4,026,738,500    Relationship to Company    —
   Total Number of Shares Issued    8,035,477    Principal Business    Advertising and advertising agency
2. Details of Acquisition    Number of Shares to be Acquired    2,786,455
   Acquisition Amount (Won)    53,499,936,000
   Company’s Total Shareholders’ Equity    22,349,250,355,012
   Ratio of Acquisition Amount to the Company’s Total Shareholders’ Equity as of December 31, 2018    0.24%
3. Number of Shares to be Held by the Company and Shareholding Ratio after Acquisition    Number of Shares to be Held    2,786,455
   Shareholding Ratio    34.60%
4. Acquisition Method    Cash
5. Purpose of Acquisition    To expand Incross’ digital advertising business through the integration of the Company’s technological capabilities.
6. Scheduled Acquisition Date    June 18, 2019
7. Date of Agreement    April 10, 2019
8. Put Options or Other Agreements    None
9. Other Important Matters Relating to Investment Decision   

•  The transaction will be conducted in the form of an off-market trade.

 

•  The acquisition amount in Item 2 above may be subject to change depending on the results of the Company’s 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 acquisition date in Item 6 above refers to the scheduled date of payment of the acquisition amount.

 

•  The above matters and timetable may change subject to discussions with, or approvals by, relevant authorities or by agreement between the parties.

 

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Summary Financial Information of Incross (Unit: in millions of Won)

 

As of and for the year ended December 31,

    Total Assets      Total
Liabilities		      Total
Shareholder’s
Equity		      Share
Capital		      Revenue      Profit for
the Year		  

2018

      121,311        58,372        62,939        4,006        35,770        8,628  

2017

      124,860        62,960        61,900        3,943        36,750        8,293  

2016

      90,531        43,782        46,749        1,470        31,454        6,326  

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    SK TELECOM CO., LTD.
    (Registrant)
    By:  

/s/ Jung Hwan Choi

    (Signature)
    Name:   Jung Hwan Choi
    Title:   Senior Vice President
Date: April 11, 2019      

 

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