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[Breaking News] Court cancels approval for YTN acquisition… Eugene Group acquisition invalidated, privatization back to square one

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Eugene Group’s

YTN

The court decided to cancel the Korea Communications Commission’s decision to approve the acquisition, saying it was illegal.

Seoul Administrative Court on the 28th

A ruling was made in favor of the plaintiff in a lawsuit filed by the Employee Stock Ownership Association and others against the Korea Communications Commission to cancel approval for the change of the largest shareholder.

February last year

Regarding the decision of the Korea Communications Commission to approve a plan to change the largest shareholder of the Korea Communications Commission to Eugene Group, the court pointed out that it was illegal because it was a decision made under a two-member system.

Eugene Group of the Korea Communications Commission

As the approval for the acquisition was ultimately invalidated, the Korea Media and Communications Commission plans to review whether to approve it again.

https://n.news.naver.com/article/657/0000045508

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