Naver Shares Jump 6% as Baemin Operator Acquisition Rumor Lifts Investor Expectations

Naver shares gained strong momentum after expectations grew that the company could acquire Woowa Brothers, the operator of Baedal Minjok. According to mk.co.kr, Naver’s stock jumped 6% as the acquisition rumor spread through the market. The rally was interpreted as a response from investors to the possible combination of Naver and Woowa Brothers, a major food delivery platform operator. However, the original report noted that some in the industry take a cautious view of the likelihood of Naver actually acquiring Woowa Brothers. Future share movement may depend on whether the rumor is confirmed and on any official positions from the companies involved. Source: mk.co.kr