Form 6-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE MONTH OF APRIL 2019

Commission File Number: 333-04906

 

 

SK Telecom Co., Ltd.

(Translation of registrant’s name into English)

 

 

65 Euljiro, Jung-gu

Seoul 04539, Korea

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):  ☐

 

 

 

Decision on Acquisition of Shares of Tbroad Nowon

On April 26, 2019, SK Telecom Co., Ltd. (the “Company”) entered into a share purchase agreement (the “Agreement”) with Tbroad Co., Ltd., the largest shareholder of Tbroad Nowon Broadcasting Co., Ltd. (“Tbroad Nowon”), pursuant to which the Company will acquire shares of Tbroad Nowon.

 

1. Details of Tbroad Nowon    Company Name    Tbroad Nowon Broadcasting Co., Ltd.
   Country of Incorporation    Republic of Korea    Representative    Shinwoong Kang
   Share Capital (Won)    5,700,000,000    Relationship to Company    —
   Total Number of Issued Shares    1,140,000    Principal Business    Fixed-line, satellite and other broadcasting
2. Details of Acquisition    Number of Shares to be Acquired          627,000
   Acquisition Consideration (Won)          10,420,740,000
   Company’s Total Shareholders’ Equity (Won)          22,349,250,355,012
   Ratio of Acquisition Amount to the Company’s Total Shareholders’ Equity as of December 31, 2018          0.05%
3. Number of Shares to be Held by the Company and Shareholding Ratio after Acquisition    Number of Shares to be Held          627,000
   Shareholding Ratio          55.00%
4. Acquisition Method    Cash
5. Purpose of Acquisition    To strengthen the competitiveness of the Company’s media business.
6. Scheduled Acquisition Date    November 7, 2019
7. Date of Agreement    April 26, 2019
8. Put Options or Other Agreements    None
9. Other Important Matters Relating to Investment Decision   

•  The acquisition consideration in Item 2 above may be subject to change depending on the results of the Company’s due diligence after the date of the Agreement.

 

•  The scheduled acquisition date in Item 6 above refers to the scheduled date of payment of the acquisition consideration.

 

•  The above matters and timetable may change subject to discussions with, or approvals by, relevant authorities or by agreement between the parties.

 

2

Summary Financial Information of Tbroad Nowon (Unit: in millions of Won)

 

As of or for the year ended December 31,

    Total Assets      Total
Liabilities		      Total
Shareholder’s
Equity		      Share
Capital		      Revenue      Profit for
the Year		  

2018

      20,340        1,393        18,947        5,700        9,498        1,052  

2017

      18,767        1,271        17,496        5,700        9,906        541  

2016

      18,062        1,107        16,955        5,700        10,200        45  

 

3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

SK TELECOM CO., LTD.
(Registrant)
By:  

/s/ Jeong Hwan Choi

(Signature)
Name:   Jeong Hwan Choi
Title:   Senior Vice President

Date: April 26, 2019

 

4