SEOUL: KT Corp., South Korea's No. 2 mobile carrier, said Tuesday that it is reviewing the purchase of a stake in a Tunisian mobile operator as part of an effort to expand overseas.
In a regulatory filing, the local mobile carrier said it is considering buying a stake in state-owned mobile network operator Tunisie Telecom, a Yonhap report said today.
"However, nothing has been decided," it said, adding that it is also seeking to expand its presence in other African countries.
Industry sources said the 35 percent stake in Tunisie Telecom up for sale now would fetch around US$650 million.
Dubai Holdings' Emirates International Telecommunications (EIT) currently holds the stake.
Tunisie Telecom, established in 1995, has around six million subscribers.
Last year, KT tried to buy a stake in South Africa's Telkom, but its bid fell through due to opposition from the South African government. (QNA)