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Mirae Asset Daewoo denies plan to acquire SK Securities

Mirae Asset Daewoo on Wednesday denied recent reports that the company is considering taking over SK Securities.

A report on the previous day said that the company would push forward several takeovers to expand its equities and develop itself into a mega investment bank.
(Mirae Asset Daewoo)
(Mirae Asset Daewoo)

It also predicted that SK Securities is the leading candidate as there were rumors that Mirae Asset Daewoo Chairman Park Hyeon-joo had made a visit to the SK group recently.

Such news had led to the jump in SK Securities’ stock price to 1,725 won ($1.54), showing a 29.7 percent rise, on Tuesday before the announcement was made by Mirae Asset Daewoo.

However, the denial led to a quick drop Wednesday with the closing price falling to 1,650 won.

Meanwhile, industry watchers say that SK group’s disposal of SK Securities is still probable, as the new administration under President Moon Jae-in has made it more likely for SK Group Chairman Chey Tae-won to focus on growth engines, such as telecommunication, energy, and semiconductors.

Additional reports have claimed that foreign private equity fund companies are showing interest in the takeover of SK Securities’ stocks.

By Yim Ji-min (jiminy@heraldcorp.com)
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