Which side are SM fans choosing between Kakao and HYBE?
On February 10, HYBE announced that it had signed a contract to acquire 14.8% of the 18.46% stake owned by Lee Soo Man and became the sole largest shareholder in SM Entertainment. Meanwhile, Kakao acquired 1.23 million new shares issued by SM in the form of a paid-in capital increase and acquired 9.05% of SM shares. With the acquisition, Kakao became the second largest shareholder in SM.are siding with the current management under co-CEOs Lee Sung Soo and Tak Young Jun.
, fans are sharing their opinions and believe it might be better for SM Entertainment to be taken over by HYBE rather than Kakao.
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