Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

KT Completes Telkom South Africa Due Diligence for Stake

KT Corp., South Korea’s largest phone and Internet company, completed due diligence on Telkom South Africa Ltd. last week ahead of a proposed stake purchase.

A study that lasted more than two months ended March 23, Seongnam, South Korea-based KT said in an e-mailed response to queries. Elyse Lee, a Seoul-based spokeswoman for KT, declined to say when the company expects to close the deal.

KT is reviewing a plan to offer Telkom a so-called “managed service,” an outsourcing arrangement under which KT would manage some of the Pretoria-based carrier’s services, according to the e-mail.

KT said in October it plans to acquire about 20 percent of Telkom by buying new shares for 36.06 rand apiece, in a deal valued at about 3.8 billion rand ($497 million). KT is looking for investment opportunities, with a focus on emerging markets such as central America and Africa, after agreeing to sell its 80 percent stake in Russian carrier New Telephone Co., the company said in May.

Pynee Chetty, a Telkom spokesman in Pretoria, declined to comment as the talks over the stake sale are ongoing.

A review of potential business cooperation and benefits with KT has “been substantially completed,” Telkom said on March 9. “Discussions continue to be positive and collaborative.”

Telkom shares dropped 1.1 percent to 24.33 rand at 1:57 p.m. in Johannesburg. KT was little changed at 32,250 won in Seoul.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.