Winning consortium launches Hanaro financing

LG Group calls foul as US consortium wins shareholder support for the purchase of Hanaro.

Following an intense struggle, the consortium led by American International Group AIG of the US has emerged victorious in its bid to acquire a 39.6% stake in Hanaro Telecom. The total financing package amounts to $1.1 billion and will consist of a $500 million equity injection from AIG and Newbridge Capital as well as a $600 million loan.

LG Group lost out as it aimed to add to its existing 18% holding after offering $634...

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