[LGU+ Conference Call] "HelloVision Acquisition to Generate Synergy Beyond Its Cost"

[Asia Economy Reporter Han Jinju] Lee Hyuk-joo, Chief Financial Officer of LG Uplus, explained during the LG Uplus 2019 Q4 earnings conference call held on the 7th about the synergy related to the acquisition of LG HelloVision, "There was a lot of time from the decision to acquire until approval was received, and during that time, there were quite a few tasks prepared in advance from the perspective of post-merger integration (PMI). Because we prepared more thoroughly than ever, we believe it is possible to generate synergy exceeding the acquisition cost of LG HelloVision."

Regarding the reasons for HelloVision's poor performance and solutions, the CFO said, "HelloVision has been in the midst of an M&A whirlwind for the past 2-3 years, which greatly reduced business focus, but since the acquisition has been completed, it will be a form of new beginning. Besides the existing cable TV, there was a lack of services or products to offer, and the infrastructure was weak. We plan to create synergy by applying the services recognized in the market by U+ to HelloVision and by using or reinforcing U+'s infrastructure," he explained.

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