Disney, EA and Tencent to Bid for Korbit

Korbit is the first ever Korean won cryptocurrency exchange in the world. And big names like EA, Disney, are running against each other to bid for this exchange. But would Disney want to run two of the world’s major cryptocurrency exchanges? As per one Sout Korean newspaperHowever, the company would have to face fierce competition from American and Chinese mega-companies.

Nexon’s owner Kim Jung-Ju (the biggest gaming company in South Korea) is looking forward to selling his company. However, Nexon is merely a small part of the more massive NXC empire. Apart from Nexon it, the business empire operates and owns Korbit exchange and Bitstamp.

Many insiders and experts on the matter are estimating different future. Some are claiming that Kim would keep his blockchain based venture and let go the rest of the $9 billion worth business; however, some say that he is most likely to sell the whole business (NXC) in and out to a single buyer.

Apart from Disney, Tencent, a China-based internet, and telecommunication company is eager to buy the business. The company has requested Goldman Sachs to take care of its bid for NXC. But, another American company named EA is also in the race. EA is a favorite and huge games developing company. So, now three big players are running for the same prize. EA, Tencent, and Disney

Nexon owner Kim is however very much clear about his objectives and wants to sell the company as soon as possible. And hence the bidding will be commenced in the mid-February; most probably right after 6th.

It is said that NXC has requested financial institutions namely Deutsche Securities and Morgan Stanley to give the investment guidelines to prospective purchasers of the business group.

Clearing the dust, recently Nexon issued a statement saying that it is true that NXC and its shareholders are pondering over multiple alternatives for their asset management, but so far nothing has been decided. Korbit became a part of NXC in 2017 October by signing a deal worth over USD 150 million. It bought Bitstamp in 2018 October.

Disney and EA might be more interested in having NXC’s gaming; however, the crypto enthusiasts would love if either of the companies ends up winning the race. Both companies already have a blockchain powered business with them. By buying NXC, one of these companies would eventually get to own two major crypto exchanges on their portfolios.

While Tencent already owns extensive blockchain operations, it would definitely be willing to add more.