South Korean antitrust regulator, the Fair Trade Commission (FTC), approved Samsung Electronics' (KRX:005930) acquisition of Rainbow Robotics (KOSDAQ:277810), citing minimal monopoly concerns, Yonhap News reported Wednesday.
Samsung, which already holds a 35% stake in Rainbow Robotics, is expanding into humanoid robotics as part of its diversification strategy, the report said.
Rainbow Robotics was established by Korea Advanced Institute of Science & Technology researchers in 2011, it said.
Shares of Rainbow Robotics plunged nearly 6% in recent trade on Thursday.
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