South Korean mobile operator KT Corporation has announced that it is considering buying a stake in a Moroccan telco.
KT did not name the target company, and said that no decision had been finalised yet, in a filing to the South Korean stock exchange…
South Korean mobile operator KT Corporation has announced that it is considering buying a stake in a Moroccan telco.
KT did not name the target company, and said that no decision had been finalised yet, in a filing to the South Korean stock exchange today. However, earlier this week the telco was said to be considering a bid for Vivendi’s controlling stake in Maroc Telecom.
As TelecomFinance reported on Wednesday, the French media and telecoms conglomerate is expecting KT, France Telecom, Qatar’s Qtel and the UAE’s Etisalat to submit preliminary offers for its 53% stake in the Moroccan incumbent by the end of next week, according to a Reuters report citing two sources familiar with the situation.
According to the report, Vivendi hopes to raise about €5.5bn (US$7.15bn) from the sale.
KT offered to buy a 20% stake in South Africa’s Telkom for US$345m earlier this year, however the government rejected it, describing Telkom as a strategic asset.
