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BlackRock increases stake in SK Hynix to 5.08 percent

May 15,2018
U.S. investment firm BlackRock acquired additional stakes in SK Hynix with its holdings passing the 5-percent mark, the country’s No. 2 chipmaker said Monday.

BlackRock, which previously held 4.99 percent in SK Hynix, purchased additional shares worth 0.09 percent last week to reach a stake of 5.08 percent, SK Hynix said in a regulatory filing.

The total value of the U.S. investor’s stake was estimated at 3.1 trillion won ($2.9 billion) as of Monday.

Investors with a stake over 5 percent on listed firms are obligated to disclose their holdings through regulatory filings.

BlackRock said it has no intention of getting involved in the management of SK Hynix.

“We, the undersigned representative reporter, hereby confirm that we and all our specially related persons will not take any action to influence the management of SK Hynix,” BlackRock said through an English-language statement included in the filing.

SK Telecom, Korea’s No. 1 mobile carrier, currently holds 20.07 percent of the chipmaker, followed by the country’s top institutional investor, the National Pension Service, at 9.94 percent.