South Korea’s two largest game companies have received approval from the nation’s Fair Trade Commission to merge their operations, reports say.
Nexon bumped its stake in rival NCSOFT to 15.1 percent last October, triggering the merger review threshold set by the government. Nexon said Monday that it was notified by the FTC that it has been cleared to move forward with integrating the two companies.
Nexon has no plans to fully acquire NCSOFT, however. “We respect the commission’s decision,” a spokesperson for Nexon said. “But we do not plan to purchase extra shares of NCSOFT as of now.”
According to reports, the FTC did not find evidence that the 15.1 percent ownership of NCSOFT by Nexon would create a monopoly.
Full content: Korea Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI