The United Arab Emirates government has shown an interest in buying a stake in South Korea's Hynix Semiconductor Inc. (000660.SE), the Electronic Times reported, quoting a Korean government official.
"(The UAE government) showed an interest in acquiring (at least) a part of the stake, if it proves difficult to acquire the entire stake," said the official.
Hynix, the world's second largest maker of computer memory chips by revenue, nearly collapsed under the weight of its debt after chip prices plunged in the previous downturn in 2001.
It was bailed out by creditor banks which became the company's shareholders via several debt-for-equity swaps. Creditors, including Korea Exchange Bank and Korea Development Bank, are now looking to sell their entire or part of their 28% stake in the chip maker.
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