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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] As speculation mounts over the sale of Kakao’s key subsidiaries, the company’s labor union has voiced strong opposition to ongoing talks regarding the potential sale of Kakao Mobility.
Crew Union, the official labor union representing Kakao employees, announced Wednesday that it plans to hold a press conference on April 17 at the headquarters of Korea Development Bank (KDB) in Seoul’s Yeongdeungpo District to oppose the sale.
According to the union, the private equity consortium led by TPG—currently a major investor in Kakao Mobility—has been actively seeking to offload its stake. The union claims that the consortium is now negotiating a deal with VIG Partners, a leading candidate to acquire the company. “VIG is reportedly aiming to acquire not only the TPG stake but also more than 50% of Kakao Mobility by including Kakao’s shares, effectively securing management control,” the union stated.
Crew Union further criticized the potential involvement of public financial institutions in facilitating the deal, saying, “Due to VIG’s limited funding capacity, state-run banks such as KDB and Shinhan Bank are expected to act as financial arrangers. It would be highly inappropriate for public capital to support the acquisition of a platform company by a profit-driven and potentially predatory private equity firm.”
Kakao currently holds a 57.2% stake in Kakao Mobility, while TPG consortium owns 24.51% and Carlyle holds 6.17%. Recent reports indicate that negotiations are underway to sell a significant portion of the company—especially the financial investor (FI) stake, which totals around 40%—with VIG Partners being named as a frontrunner.
The union confirmed it has verified signs of an ongoing sale process and is preparing to take aggressive action in response. It strongly opposes both the sale of Kakao Mobility in general and any injection of public funds into a private equity acquisition.
“We will use all available means to block this sale,” said Crew Union. “We also plan to question political parties about the appropriateness of using public capital to support a private equity deal.”
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
