January 3, 2019 / 12:22 AM / 3 months ago

Nexon founder to sell controlling stake in gaming co's holding firm - report

FILE PHOTO: Logos of online gaming firm Nexon are seen at its main office building in Seoul December 14, 2011. REUTERS/Kim Hong-Ji

SEOUL (Reuters) - The founder of South Korean gaming company Nexon (3659.T) is set to sell a controlling stake in Nexon’s holding firm NXC Corp, the Korea Economic Daily newspaper reported on Thursday.

Nexon is listed on the Tokyo stock market.

The value of the stake up for sale was estimated at 10 trillion won (7 billion pounds), the paper said, citing unidentified industry sources.

Deutsche Bank and Morgan Stanley have been selected to manage the sale, the report said.

Reporting by Heekyong Yang; editing by Richard Pullin

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