Skip to content
Subscriber Only

Nexon Slides on Report Its Billionaire Founder Is Scrapping Sale

  • Banks will inform buyers of decision: Korea Economic Daily
  • Shares fall 4.9% as months-long discussions reportedly stall
Updated on

Nexon Co.’s shares dived as much as 5% after a South Korean newspaper reported that billionaire Kim Jung-ju has abandoned plans to sell down his controlling stake in the game developer.

Banks working on a deal including UBS Group AG and Deutsche Bank AG plan to inform potential buyers of the Nexon founder’s decision, the Korea Economic Daily cited unidentified people in investment banking.