The Fair Trade Commission approved Shinsegae E-Mart's acquisition of SK Wyverns.
The Fair Trade Commission announced today (3rd), "As a result of examining the restrictions on competition, focusing on the domestic professional baseball team operating market, it has decided that there is no concern about substantially restricting competition."
The Fair Trade Commission said, "Shinsegae owns a 14.5% stake in Samsung Lions, but in the professional baseball market, 10 teams are competing fiercely, and both teams have different regional ties, so it is unlikely that the quality of the game and league will be degraded through cooperation." I explained.
E-Mart signed a contract to acquire 100% of SK Wyverns' shares owned by SK Telecom on February 23 and reported a business combination to the Fair Trade Commission.
The Fair Trade Commission decided that the merger had no fear of limiting market competition, and sent the results of the review on the 26th of last month.
The Fair Trade Commission said, "In consideration of the pro baseball schedule that is approaching one month in the future, the corporate combination review was conducted as quickly as possible using the'arbitrary preliminary screening system'." We will do it quickly.
The voluntary preliminary examination is a system that allows companies to be examined for restrictions on competition in business combinations before signing a contract related to stock acquisition.