Hybe acquires further 0.98% stake in SM Entertainment through tender

SM Entertainment

06/03/2023 08:17

SEOUL, March 6 (Reuters) - HYBE acquired a further 0.98%
stake in its rival SM Entertainment through a tender offer, a
regulatory filing showed on Monday. 
    The BTS agency sought to purchase up to 25% of SM through a
tender offer last month but fell short of that goal. 
    HYBE owns a 15.78% stake in SM as of Monday.

 (Reporting by Hyunsu Yim; editing by Jason Neely)
 ((Hyunsu.Yim@thomsonreuters.com;))