KT Corp exits Telecom Mongolia

2 May 2018

South Korea’s KT Corp has completed the sale of its 40% stake in Telecom Mongolia back to the Mongolian government. In July 2017 it emerged that the government had agreed to pay USD2.55 million for KT’s 40% interest, which the Korean firm had acquired in August 1995 for USD4.5 million. The state now has a 94.67% shareholding in Telecom Mongolia. It is thought that the Ulaanbaatar regime will ultimately look to re-privatise the Mongolian telco, which is the country’s incumbent fixed line operator.

Mongolia, KT Corp, Telecom Mongolia