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CJ's home shopping unit says various options under review amid takeover rumors

2018/04/24 15:44

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SEOUL, April 24 (Yonhap) -- CJ O Shopping Co., a home shopping unit of South Korea's food and entertainment conglomerate CJ Group, said Tuesday the company is reviewing various options amid rumors it is pushing to acquire a European retailer.

Earlier, local media reported the company is in talks with Studio Moderna to purchase the retailer based in Eastern Europe, citing sources from the investment bank industry.

In a regulatory filing, CJ O Shopping said, "The company is considering various options to strengthen global competitiveness, but no specifics have been decided at the moment."

   The Korean firm currently operates home shopping channels in key Asian markets, including China and Japan, as well as one in Mexico, but has no presence in Europe.