BT plans pounds 300m Korean stake
BRITISH TELECOM is planning spend $500m (pounds 300m) on a 20 per cent stake in the South Korean cellular phone company, LG Telecom. Clearance from the South Korean Information and Communications Ministry is needed before BT can go ahead, and insiders expect a deal to be finalised as early as October.
BT faces several competing bids for the stake in the mobile phone group. LG Telecom, set up in 1996, is a consortium led by the industrial conglomerate, LG Electronics. Until now BT's biggest investment in Asia has been in Japan.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies