SEOUL: The LG Group and a foreign partner are expected to make a counter bid to buy Hanaro Telecom Inc today, heating up a battle with a US investment group for South Korea’s second largest broadband firm.
“We’ll offer a better acquisition package for Hanaro ... Our offer has a bigger investment and higher price,” said an LG official yesterday. He declined, however, to name the foreign partner, reportedly US private equity firm Carlyle Group.
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