🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

KT CEO says in talks to sell Russian unit

Published 04/21/2011, 09:06 PM
Updated 04/21/2011, 09:08 PM
CSGN
-

SEOUL, April 22 (Reuters) - KT Corp , South Korea's top fixed-line and No.2 mobile company, is in talks to sell its Russian unit New Telephone Company (NTC), its chief executive said on Friday.

"We are in talks to sell the business," KT chief executive Lee Suk-chae told Reuters. Lee declined to comment on the potential buyer or the size of the deal.

In November, KT appointed Credit Suisse to sell a 80 percent stake in NTC it bought in 1997.

Bankers said at the time that NTC was worth around $500 million, and that Vimpelcom , Russia's second-largest cellphone company, said it would be interested in buying the asset. [ID:nLDE69L1OJ] (Reporting by Hyunjoo Jin; Editing by Jonathan Hopfner)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.