Tags: KT Corp, Vivendi, Africa
Publication: Ventures-Africa.com
Publication Date: 02/05/2013

KT Corp is also interested in buying Vivendi’s 53 percent stake in Maroc Telecom. According to reports, Citigroup, Credit Suisse and Societe Generale will advise KT Corp and would finance its potential investment in Morocco’s main telecoms operator. The deal could potentially be worth more than $6 billion. If successful, this would be KT Corp first businesses in Africa.

Qatar’s Qtel and United Arab Emirates’ Etisalat have made non-binding bids. Some reports indicate there is a possibility that Vivendi could turn to France Telecom as a possible buyer of the stake.

Vivendi is trying to raise its share price and reduce its debt of 15.7 billion euros, which is why it is looking to sell come of its assets.

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