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South Korea has no intention to take over the operation of LG reiterated chipmaker Hynix
LG Group (LG Group) reiterated that the company has no intention to take over the operation of the South Korean chip maker Hynix (Hynix Semiconductor Inc. KR-000660).
According to Bloomberg reports, the Seoul Economic Daily reported earlier, Hynix's creditor banks require operators to take over LG Group Hynix.
LG Group spokesman Lee Hyoung Kun said: "Our position is unchanged, that is not our intention to take over Hynix." Moreover, he refused to comment on the report.
According to the report, the creditor banks also proposed that the beginning of the first LG Group acquired a 5% stake, followed by further decide whether to buy the other 10% stake. It is understood that the creditor banks will be sold in bulk (block sale) way to sell off the remaining 5% stake.