KT CEO says merger with mobile unit KTF desirable
SEOUL, July 23 |
SEOUL, July 23 (Reuters) - The head of KT Corp (030200.KS), South Korea's top fixed-line and broadband firm, has said full integration with its mobile service unit KTF Co Ltd 032390.KS would be "desirable", a KT spokesman said on Wednesday.
Investors and analysts have long expected KT to absorb KTF, the country's No. 2 mobile carrier and 53-percent owned by KT, to better compete with rivals and help offering services bundling fixed-line, mobile and Internet.
KT chief executive Nam Joong-soo made the remark in a recent company event, spokesman Lee In-won said.
"We are still considering it and no decision has been made on details such as timing," Lee added. (Reporting by Rhee So-eui; Editing by Keiron Henderson)
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