LG to sell stake in IT arm LG CNS - report

Wednesday 12 June 2019 | 07:13 CET | News
According to unnamed industry sources, the LG CNS sale plans follow the Fair Trade Commission's recent decision to strengthen regulations against intra-affiliate trades of family-controlled business groups, such as LG Group. Companies with 20 percent or more of their shares owned by controlling families will now face tougher regulations. The new regulations target affiliates in which more than 50 percent of shares are owned by such firms. As such, LG needs to sell more than 35 percent of its stake in LG CNS to steer clear of the new regulations.

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Categories: IT
Companies: LG
Countries: Korea, Republic of
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