Photo = Yonhap news

 

 

[Alpha Biz= Kim Jisun] Kakao on Wednesday (April 9) issued a regulatory filing denying media reports that it is pushing to sell its stake in Kakao Entertainment, stating that "no decision has been made."


The company clarified, "While we are exploring various options with shareholders of Kakao Entertainment to enhance overall group value and support the company’s continued growth, nothing has been finalized at this time."


The statement came after a local media outlet reported, citing investment banking sources, that Kakao had sent letters to shareholders of Kakao Entertainment—including Anchor Equity Partners and Saudi Arabia’s Public Investment Fund (PIF)—expressing its intention to sell its controlling stake.


In response, Kakao’s labor union, Crew Union, issued a statement on Wednesday morning opposing the potential sale. The union referenced earlier cases such as the planned divestments of Kakao VX and Kakao Mobility, declaring, “We are against the sale of Kakao’s core platforms to private equity funds.”

 

 

 

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