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Penny Stock DD

A South Korean wireless firm has emerged as a surprise bidder in the auction for bankrupt Blockbuster, The Post has learned.

Seoul-based SK Telecom, the country’s largest mobile-phone carrier with 24 million subscribers, has said it wants to broaden its product lineup and differentiate its offerings to capitalize on booming demand for smartphones.

SK Telecom could not immediately be reached for comment. Blockbuster didn’t immediately return a call for comment.

Blockbuster’s major debtholders, which include Monarch Alternative Capital and activist investor Carl Icahn, have been looking to take over the ailing video-rental chain for as much as $290 million.

Regards,

Don

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