Fitch may up LG Telecom

Fitch Ratings said it placed LG Telecom's BB+ long-term foreign-currency issuer default rating on Rating Watch positive following shareholder approval of a three-way merger with LG Dacom and LG Powercom.

The positive watch will be resolved following the expected completion of the merger, which is slated for Jan. 1, 2010.

An upgrade of the ratings may occur if total funding costs for the merger do not exceed the company's expectation of KRW800 billion, the agency said.

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