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KTF and LGT go all out to acquire Hansol
Posted: 02-Apr-2000 [Source: The Korea Herald]

[More Telecom merger activity, this time in Korea.]

"Korea Telecom Freetel (KTF) and LG TeleCom (LGT) are going all out to capture Hansol

"KTF has recently begun publicly discussing its bid for the smallest of the country's five wireless operators while LGT is hopeful that the recent visit by British Telecom (BT) Chairman Peter Bonfield, has boosted its chances of a takeover. BT is the second largest shareholder in LGT with a 24.13 percent stake, after LG Information and Communication (LGIC) which holds a 24.38 percent interest.

"KTF's newly appointed President, Lee Yong-kyung, recently indicated that negotiations are in full swing, saying that a concrete form of the takeover proposal will take shape sometime in the middle of April.

"Lee emphasized that the merger of KTF and Hansol would result in greater efficiency as the two PCS operators have been sharing some base stations.

"KTF is reported to have suggested swapping some of its SK Telecom shares for Hansol stakes held by the Hansol Group and Bell Canada International (BCI) as one possible form of merger.


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