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KT Corp denies plans to bid for ETB

19 Mar 2010

Dow Jones Newswire reports that South Korean telco KT Corp has no plans to bid for a stake in Empresa de Telecomunicaciones de Bogota (ETB). Colombian business newspaper La Republica had earlier reported that KT was considering a bid for a controlling stake in ETB, citing comments from South Korea’s Vice Transport Minister Kwon Do-youp at a meeting in Colombia. However, KT spokesman In Won Lee said the company had not considered such an investment. Telefonica has already made known its intention to bid for ETB, and there is speculation that Telemex may also get involoved.

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