South Korean mobile telecom company KT has said it will not buy a stake in Woori Finance Holdings. Confirming to Dow Jones that Woori had approached it about taking over a stake currently owned by the South Korean government, KT said it was not…
South Korean mobile telecom company KT has said it will not buy a stake in Woori Finance Holdings. Confirming to Dow Jones that Woori had approached it about taking over a stake currently owned by the South Korean government, KT said it was not interested.
Recently, Woori Finance has been sounding out the interest of local companies to acquire parts of the government’s 57% stake. According to JoongAng Daily, a South Korean newspaper, Woori is looking to be sold to a consortium of investors rather than just one investor who would control the company following the privatisation.
KT and Woori could not be reached for comment by press time.
