LG Telecom shareholders okay renaming

Shareholders of South Korea’s LG Telecom, the country’s smallest mobile network operator by subscribers, have approved the company’s plans to change its name to LG Uplus from next month. The cellco absorbed its fixed line sister companies – LG Powercom and LG Dacom – earlier this year with a view to improving competitiveness against rivals KT Corp and SK Telecom. The newly-monikered company is expected to announce its mid- and long-terms plans later this week.