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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: foundation who wrote (6241)	1/17/2001 7:39:59 AM
From: foundation	Read Replies (1) \| Respond to of 197432

LG Hints at Possible Sale of Telecom Unit to Korea Telecom By Kim Deok-hyun Staff Reporter LG Telecom, the nation's second largest mobile phone carrier, has hinted at the possibility of selling its telecommunication unit to the Korea Telecom. LG Electronics, a major shareholder of LG Telecom, said yesterday, ``The sale of LG Telecom to Korea Telecom is in the discussion stage but no decision has been made.'' ``Preliminary'' talks between senior officials of the two companies were held last week, indicating that LG is not interested in bidding for a synchronous mode IMT-2000 license, the winner of which will be made public in March. Industry analysts said that LG's statement reflected the significant change about the fate of its telecommunication business _ which was unable to obtain a asynchronous third-generation (3G) mobile phone, also known as IMT-2000, license last December. Critics described LG's latest move as a tactic to gain an upper hand in the forthcoming IMT-2000 bid. A senior official at LG Telecom said, ``The company sent a proposal to Korea Telecom, however, it is difficult to materialize a deal.'' LG Electronics added, ``The company is considering the wholesale revamping of its telecommunication business.'' Outwardly, the LG Telecom-led IMT-2000 consortium is still sticking to its asynchronous mode or wideband-CDMA IMT-2000 business, saying it will not bid for the remaining IMT-2000 ticket in mid-March. Although the government has been contacting LG Telecom to attract the company's synchronous mode or CDMA (Code Division Multiple Access) 2000 bid through behind-the-scene meetings, LG's attitude remains cold. Last week, LG Telecom strongly denied speculations of a possible sale of the company. It then said in a statement, ``The only decision that we have made is that we will not pursue an IMT-2000 service based on synchronous mode or CDMA 2000 standard.'' kdh@koreatimes.co.kr koreatimes.co.kr