Market Chatter: Goldman Sachs Eyes Controlling Stake in South Korea's Tmap Mobility

MT Newswires Live09:30

Goldman Sachs is seeking to acquire a 60% to 70% stake in Tmap Mobility, the operator of a South Korean navigation app, for 600 billion to 800 billion won, The Korea Times reported Friday, citing industry sources.

The investment bank aims to buy the stake from SK Square and other investors by the end of the year, according to the report. SK Square is a major shareholder of SK hynix (KRX:000660).

Goldman Sachs sees value in Tmap Mobility's relatively low valuation and extensive mobility data amid advances in autonomous driving, the report said.

Goldman Sachs and Tmap did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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