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Mergers and Acquistions News

Categories: Telecoms

January 12th 2009, 16:04PM

South Korean telecoms firm KT Corp is set to seek approval for a merger with its mobile service unit KTF, Reuters reports.

The news provider reveals that unnamed sources have told Yonhap News that an application will be submitted to the nation's regulator by the end of the month.

KT, South Korea's leading fixed-line and broadband provider, already owns 54.3 per cent of KTF and a merger has long been in the offing.

Although it put no timeframe on the move, KT has previously confirmed it aims to takeover its rival.

However, analysts are doubtful as to whether approval for a full merger will be granted due to anti-trust concerns.

Last week, it was revealed that UK firm Hello Telecom has acquired the hosted voice operation and customers of TelNG.

The all-share deal sees Hello gain its own BT interconnect network, meaning it can receive payment from the carrier for calls terminated on its network.
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