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SEOUL,Nov 13 (Yonhap)– Prosecutors indicted the chief investment police officer of South Korean system titanKakao Corp on Monday over affirmed stock manipulation in a top-level fight to take over K-pop giant SMEntertainment Co
Bae Jae- hyun will certainly stand test on fees of pumping up the rate of SM Entertainment shares in infraction of the Capital Market Act, with the intent to threaten a tender deal from competing prospective buyer Hybe throughout the warmed takeover fight in February, the Seoul Southern Prosecutors Office claimed.
Kakao Corp was likewise indicted in conformity with the chastening arrangement that penalizes both the firm and the worker, the prosecution claimed.
Bae was apprehended last month.
He is implicated of buying some 240 billion won (US$ 181.3 million) well worth of SM shares to inflate their rate throughout the takeover fight.
Hybe, the moms and dad firm of K-pop superband BTS’ …
