SM Entertainment’s stock price surged to a record high after the K-pop agency’s founder vowed to block a share sale to internet giant Kakao.
The move has spurred speculation that the agency’s board and its allies will face off with founder Lee Soo-Man — widely regarded as the godfather of K-pop — in a race to buy up shares to secure a controlling stake...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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