UPDATE 1-LG Display picks CSOT as preferred bidder for China LCD plant

Reuters08-01

(Adds details, paragraphs 2-3)

SEOUL, Aug 1 (Reuters) - South Korea's LG Display

has picked TCL's LCD unit CSOT as preferred bidder for its liquid crystal display $(LCD.AU)$ plant in Guangzhou, China.

LG and CSOT will carry out exclusive negotiations for a potential sale, LG Display said in a regulatory filing on Thursday without elaborating on deal size.

LG Display is transitioning from LCD to organic light-emitting diode $(OLED)$ in its business, LG said.

(Reporting by Joyce Lee and Heekyong Yang Editing by David Goodman)

((joyce.lee@tr.com;))

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