Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, February 4, 2013

S.Korea's KT hires banks for Maroc Telecom bid-sources, (NYSE: KT)

South Korean telecoms company KT Corp has lined up three banks to advise on its potential bid for Vivendi's 53 percent stake in Maroc Telecom worth about 5.5 billion euros, two people familiar with the situation told Reuters. Citigroup, Credit Suisse and Societe Generale will advise KT Corp and finance its potential investment in Morocco's main telecom operator if it is successful, the sources said.

KT Corporation a Korean-based company engaged in the provision of integrated telecommunications services. Shares of KT traded higher by 2.55% or $0.435/share to $17.48. In the past year, the shares have traded as low as $11.64 and as high as $18.23. On average, 813460 shares of KT exchange hands on a given day and today's volume is recorded at 163090.