Naver's acquisition of SM and Lee Soo-man's shares also falls through

Article: Naver, “We won't be taking over SM Entertainment"... Kakao, "unconfirmed"

Source: Asia Economy

Naver has also decided not to invest in SM Entertainment. 

On the 21st, Naver CFO Kim Nam-seon stated, "We're reviewing various measures as part of strengthening our business competitiveness however we've decided not to review investments in SM."

Naver was competing with Kakao and CJ ENM to acquire SM and Lee Soo-man's 19.21% stake however it appears they have also decided not to invest in the company. 

Meanwhile, talks with Kakao are currently at a standstill after Lee Soo-man made additional last minute demands for more money and management rights. A Kakao official stated, "we're still undecided."

1. [+1,187, -6] Naver is smart. 
2. [+478, -9] Lee Soo-man's greed is the source of all problemsㅋㅋ
3. [+254, -29] Naver is being realistic, SM is a dry hole ~ 
4. [+234, -40] SM was worth something when they had Girls Generation and BoA. Red Velvet is a flop because of Irene so do they even have anything now? 
5. [+120, -6] Ah, Lee Soo-man's greed is going to be the goose that eats up all SM's opportunities. 
6. [+57, -1] Aespa coming out with 'Dreams Come True' remake at the height of their popularity was proof SM has lost their touch. Was there really no other song they could promote that they had to pick that? Why make a trending idol put out a remake like that ㅋㅋ
7. [+38, -1] Someone please take over SM and stop them from taking in Chinese idols.. Lee Soo-man should step down if he's lost his touch and stop with obsessions over Chinese money. 
8. [+33, -0] What did they expect after that old man made such bizarre requests demanding to maintain management rights after he handed over his shares? He has lost his mind. 
9. [+32, -0] Who would want to acquire SM when they're on the decline??
10. [+29, -1] SM got big back then because of Girls Generation, do they even have anything going for them now? They're just your typical nugu now. 
11. [+21, -0] Who'd play the fool for Lee Soo Man ㅋㅋㅋㅋ
12. [+11, -1] I knew this would happen ㅋㅋㅋ. Why would conglomerates care to cater to Lee Soo-man ㅋㅋㅋ. It's not like he has a trend idol group like BTS.