LG Electronics rules out acquisition of Pantech
SEOUL-- LG Electronics Inc. on Monday ruled out the rumor that the company is considering the acquisition of South Korea's No. 3 smartphone manufacturer, Pantech Co.
Through a regulatory filing made after getting the request from the Korea Exchange, the main bourse operator, South Korea's No. 2 tech giant said it has never considered purchasing Pantech.
After facing financial troubles, Pantech was normalized in late 2015 after Solid Inc. listed the company on the secondary bourse KOSDAQ acquired the firm.
Solid, a telecom device maker, also said through a regulatory filing that LG Electronics is not moving to purchase Pantech.
Source: Yonhap News Agency