South Korea's KT may bid for stake in Moroccan telecommunications firm
SEOUL Dec 14 (Reuters) - KT Corp said on Friday it was considering buying a stake in a Moroccan telecommunications firm after Reuters reported earlier that the South Korean firm is interested in bidding for Vivendi' 53 percent stake in Maroc Telecom.
Vivendi SA is expecting KT, France Telecom SA , Qatar's Qtel and Etisalat of the United Arab Emirates to submit preliminary offers for the stake, which Vivendi hopes will fetch 5.5 billion euros ($7.20 billion), two people familiar with the situation said early this week.
"We are considering taking a stake in a Moroccan telecoms operator, but nothing has been decided yet," KT said in a filing to South Korea's stock exchange.
The Korea Economic Daily reported on Friday that KT, which operates both fixed-line and mobile networks, was likely to form a consortium with the National Pension Service for the investment.
($1 = 0.7641 euros) (Reporting by Miyoung Kim; Editing by Matt Driskill)
Trending On Reuters
Strategies for making the most of your donations - from how to grow the money you plan to give to how to withdraw it with minimal tax implications. Video