Nexon Co founder Jungju Kim has scrapped plans to sell a controlling st...
) founder Jungju Kim has scrapped plans to sell a controlling stake in its parent NXC, two sources with direct knowledge of the matter said on Monday, scuppering potentially the largest deal in the gaming sector at up to $16 billion.
Kim had been looking to sell the 98.6% stake he and his wife hold in NXC, which in turn owns 48% of Tokyo-listed Nexon. “I am not picking a preferred bidder in light of market conditions and others,” its billionaire founder said in an email sent to bidders via adviser Morgan Stanley, South Korean newspaper Joongang Ilbo reported.
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