Naver's Dunamu takeover faces antitrust scrutiny amid competition concerns
The Fair Trade Commission (FTC) has launched a formal review of Naver Financial’s planned acquisition of Dunamu, saying the deal could substantially restrict competition across multiple markets, including online payments and digital asset exchanges, the watchdog said Tuesday. The deal involves a comprehensive stock swap under which Naver Financial would acquire all shares of Dunamu. In return,…
The Fair Trade Commission (FTC) has initiated a formal investigation into Naver Financial's proposed acquisition of Dunamu, expressing concerns that the deal could significantly curb competition in various sectors, such as online payments and digital asset exchanges. The merger would involve a stock swap, with Naver Financial purchasing all of Dunamu's shares in exchange for Naver Financial shares.
Following the acquisition, Dunamu would cease to exist and become a wholly-owned subsidiary of Naver Financial. The proposed merger has raised competition concerns, and the FTC has requested corrective measures from the companies involved. Naver Financial aims to consolidate one of Korea's largest digital asset exchanges within its financial portfolio.
It is anticipated that the FTC will convene a hearing on the matter in the near future, with the ultimate decision resting on final regulatory approval.
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