The Koreans are here. South Korea’s Korea Telecom (KT) has said it is set to buy a stake in Tunisia’s Tunisie Telecom, a firm that was established in 1995 and has around six million subscribers.
The report found in a stock market filing, showed that the firm is set to buy a stake in Tunisia based firm after dropping its bid to buy a controlling stake in Morocco’s Maroc Telecom.
The 35% stake in Tunisie Telecom is owned by a Dubai firm which is set to sell it. The Dubai owners have made losses on the state-controlled firm after buying the 35% stake for $2.25 billion in 2006, which is now worth a little around $650 million.