SK Telecom to buy MP3 player maker iRiver from Vogo-Rio
SK Telecom, the nation’s largest mobile telecommunications service provider, will acquire iRiver, a local MP3 player maker that once was No. 1 in the world market.The midsize audio gadget maker announced that its largest shareholder, Vogo-Rio Investment Holdings, decided to sell iRiver to SK Telecom. The two sides will start negotiations for a sales contract as soon as possible. In the initial bidding, SK competed with three other companies, two Japanese audio player manufacturers and one Korean private equity fund.
with the Korea JoongAng Daily
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