Korea Zinc Expresses Worries over MBK's Rehabilitation Move, Sparking Concerns over Short-termism in Private Equity [Yahoo! Finance]
TESCO PLC S/ADR (TSCDY)
NASDAQ:AMEX Investor Relations:
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Source: Yahoo! Finance
process, criticism is mounting over its parent company, MBK Partners, as well as the management practices of private equity firms (PEFs) in general. These concerns have been long voiced by Korea Zinc, regarding MBK Partners' recent takeover attempt. According to the Korea Joongang Daily , the mounting skepticism surrounding MBK further weakens its position in its ongoing battle for control of Korea Zinc (KRX:010130), the world's largest nonferrous smelter. Korea Zinc has argued that MBK and its ally, Young Poong, are only after financial gains and lack the management expertise necessary for the industry. "If MBK were to take control of Korea Zinc, its fate could end up just like Homeplus in 10 years," warned an industry source. With regulators now scrutinizing the implications of financial capital controlling industrial capital, doubts have arisen regarding the role of PEFs as a whole, and questions have been raised whether PEFs are to blame for the bankruptcies of their portfol
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