{"id":798562,"date":"2021-06-07T10:08:12","date_gmt":"2021-06-07T10:08:12","guid":{"rendered":"https:\/\/telecomlive.in\/web\/2021\/06\/07\/sk-telecom-not-selling-stake-in-e-commerce-unit-11street-to-amazon\/"},"modified":"2021-06-07T10:08:12","modified_gmt":"2021-06-07T10:08:12","slug":"sk-telecom-not-selling-stake-in-e-commerce-unit-11street-to-amazon","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2021\/06\/07\/sk-telecom-not-selling-stake-in-e-commerce-unit-11street-to-amazon\/","title":{"rendered":"SK Telecom not selling stake in e-commerce unit 11Street to Amazon"},"content":{"rendered":"<p>SK Telecom, a major mobile carrier, denied a news report on Monday that it is planning to sell a stake in its e-commerce unit 11Street to ecommerce giant Amazon in a bid to bolster its online retail business.<\/p>\n<p>Local media had earlier reported that Amazon will exercise its right to acquire a 30 percent stake in 11Street, and that the US retailer could acquire up to a 50 percent stake in the South Korean e-commerce company.<\/p>\n<p>SK Telecom and Amazon strengthened ties in November last year to collaborate in e-commerce and made an agreement whereby the U.S. tech giant has the right to acquire a stake in 11Street, reports Yonhap news agency.<\/p>\n<p>&#8220;We are collaborating to launch a service so that Amazon products can be directly purchased within 11Street,&#8221; SK Telecom said in a statement. &#8220;There is no ongoing matter regarding a stake transfer.&#8221;<\/p>\n<p>The wireless carrier currently owns an 80 percent stake in 11Street and is planning an initial public offering for the online retailer next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SK Telecom, a major mobile carrier, denied a news report on Monday that it is planning to sell a stake in its e-commerce unit 11Street to ecommerce giant Amazon in a bid to bolster its online retail business. Local media had earlier reported that Amazon will exercise its right to acquire a 30 percent stake in 11Street, and that the US retailer could acquire up to a 50 percent stake in the South Korean e-commerce company. SK Telecom and Amazon strengthened ties in November last year to collaborate in e-commerce and made an agreement whereby the U.S. tech giant has [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-798562","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=798562"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/798562\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=798562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=798562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=798562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}