S.Korea's regulator raids SM Entertainment headquarters - Yonhap

SM Entertainment

18/04/2023 07:50

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       April 18 (Reuters) - South Korea's financial regulator
raided the headquarters of SM Entertainment Co  041510.KQ  on
Tuesday over suspicions that Kakao Corp  035720.KS  manipulated
stock prices in the process of acquiring shares of the company,
Yonhap reported on Tuesday, citing sources. 
    In March, South Korean social media giant Kakao's stake in
K-pop agency SM Entertainment reached 40%.

 (Reporting by Jahnavi Nidumolu in Bengaluru; Editing by Kim
Coghill)
 ((Jahnavi.Nidumolu@thomsonreuters.com;))