In a country with one of the world’s largest broadband markets, Powercomm is regarded as an essential asset for anyone with ambitions to challenge KT Corp, the country’s largest fixed-line and internet access company.
Dacom won the battle as part of a consortium that includes Caisse de Depot et Placement du Quebec, Softbank Corp’s Asia Infrastructure Fund, Samji Electronics Co, Hanil General Corp, and Korea Technology & Banking Network Corp.
Dacom’s victory is a big set-back to Hanaro Telecom Inc, the country’s second largest ISP, which said it would scrap a plan to raise $1.4bn in funds after failing to acquire the Powercomm stake.
Source: Computerwire
