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KCC gives go ahead for KT and KTF merger

19 Mar 2009

Trading Markets is reporting that the Korea Communications Commission (KCC) has given regulatory approval to the merger of fixed line and broadband operator KT Corp (KT) and its mobile unit KTF Corp (KTF). The regulator gave its blessing to the merger, noting that it did not believe the resulting company would prove a threat to competition. The announcement comes less than a month after the South Korean anti-trust agency approved the proposals, although the tie-up still needs the backing of shareholders of both KT and KTF to be finalised; shareholders will vote on the merger on 27 March. KT has said that, subject to shareholder support, it expects that the newly merged company will be launched in May 2009.

South Korea, Korea Communications Commission (KCC), KT Corp

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