KT Shelves Telkom Stake Plan on South Africa Opposition
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KT Corp., South Korea’s second-largest mobile-phone operator, shelved its plan to buy a 20 percent stake in Telkom South Africa Ltd. after the South African government said it opposed the sale.
Plans for the purchase were set aside and may be revived depending on what the South African government asks for, Yung Kim, senior executive vice president for strategy planning and investment at Seongnam, South Korea-based KT, said in a phone interview today. “If it’s something we can solve, we can talk again. We don’t have a clear idea on what the problem is.”