SK Telecom to buy MP3 player maker iRiver from Vogo-RioSK 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.