KCC gives green signal to KT-KTF merger (Korea)
www.WirelessFederation.com/news: Korean Communications Commission has approved merger between KT and its mobile unit KTF. The regulator’s board reportedly voted unanimously to approve the deal. KT holds 90% of the country’s subscriber base and nearly 45% of high-speed internet users, while KTF controls 30% of mobile subscribers.
KT-KTF will hold the shareholders meeting on 27th March, and if granted approval there, the combined company will be launched on 18 May with annual sales of KRW 19 trillion. KCC approved merger and ruled that KT should make its fixed-line and broadband networks more accessible to rival telephony carriers and internet companies. The company must also make it easier for its fixed-line customers to switch to other carriers under number portability, and invest further in WiBro, the local variant of mobile Wimax.
