SM Entertainment.According to a report by The Korea Economic Daily, CJ Group has proposed a price of ₩300billion (approximately £188million) for a 18.75 per cent controlling stake in SM Entertainment, home to popular K-pop acts such as Red Velvet, NCT, EXO, Girls’ Generation and more.CJ Group’s bid for the shares of SM Entertainment puts them in a race with some of South Korea’s biggest corporations, including Kakao Corp, which had previously proposed a premium of over 70 per cent for the stake.HYBE, home to K-pop megastars BTS, had also taken an interest in the controlling stake and reportedly offered a higher price than Kakao’s proposal.
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