Friday, March 28, 2008

[The Chosun Ilbo, February 18 2008] Phone Industry Unhappy Over Hanaro Takeover Approval

Korea’s anti-trust regulator on Friday conditionally approved the proposed takeover of Hanaro Telecom by Korea’s leading wireless operator.

The Fair Trade Commission made the ruling in a general meeting with one attached condition -- that SK Telecom redistribute the 800 MHz frequency it currently monopolizes. The FTC said that the merger of SK Telecom’s mobile phone business and Hanaro’s high-speed Internet business could lead to a monopoly.

But the decision prompted opposition from all parties -- including SK itself, its rivals KTF and LG Telecom, and the Ministry of Information and Communication, which has the final say on the takeover.

No comments: