LG plans to merge telecom units

South Korean LG Group has announced plans to merge its three telecom units to boost its customer base and strengthen its portfolio according to a Reuters report.

The report said the company will merge its mobile carrier LG Telecom, fixed-line operator LG Dacom and broadband company LG Powercom to compete with bigger telecom rivals KT Corp and SK Telecom.

Operators are trying to retain their customers in the saturated Korean market by bundling their mobile, fixed-line and internet services.

Earlier this year, South Korean fixed-line and broadband provider KT Corp merged with its wireless unit KT Freetel, to bundle landline, broadband, internet TV, and mobile services to tackle competition from SK Telecom and LG Powercom. SK Telecom has also exerted control over its broadband affiliate SK Broadband.

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