Nexon founder scraps plan to sell controlling stake in parent firm NXC for $16b

FILE PHOTO: Logos of online gaming firm Nexon are seen at its main office building in Seoul, December 14, 2011. REUTERS/Kim Hong-Ji

Nexon Co founder Jungju Kim has scrapped plans to sell a controlling stake in its parent NXC, two sources with direct knowledge of the matter said on Monday, scuppering potentially the largest deal in the gaming sector at up to $16 billion.

Kim had been looking to sell the 98.6% stake he and his wife hold in NXC, which in turn owns 48% of Tokyo-listed Nexon.

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