LG, SK Telekom to buy Korean cable TV operators

Korea’s antitrust agency has given conditional approvals for LG Uplus and SK Broadband to purchase the country’s No. 1 and No. 2 cable TV operators CJ Hello and t-broad, respectively, according to the Fair Trade Commission (FTC).

The FTC said it approved SK Broadband, a subsidiary of the country’s largest mobile carrier SK Telecom, to merge with t-broad, and LG Uplus, the third-largest mobile carrier, to acquire a 50 per cent stake and an additional one share of CJ Hello for 800 billion won (€ 625.4 million).

Source: LG, SK Telekom to buy Korean cable TV operators