[Alpha Biz= Reporter Kim Jisun] Stage X, facing the potential cancellation of its status as the fourth mobile carrier, has denied allegations that it made a bid of 430.1 billion won in a frequency auction without shareholder approval.
On the 24th, Stage X stated, "We communicated the progress of the auction and conducted it with the consent of all participating stakeholders."
A media report earlier in the day claimed that during the frequency auction held between January and February, Stage X did not seek approval from its major shareholders for the bid amount. The report alleged that Stage X submitted a sealed bid of 430.1 billion won, approximately six times the auction's starting price of 74.2 billion won, without informing the consortium shareholders about the expenditure exceeding 4 trillion won.
In response, Stage X refuted the allegations, stating they are baseless. A company representative said, "To maintain confidentiality during the auction process, we obtained prior consent and authority from the participants and communicated the progress of the auction throughout the process."
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
