KT looks to invest in Maroc Telecom

KT looks to invest in Maroc Telecom

Korean operator KT Corp has bid for a controlling stake in Moroccan company Maroc Telecom.

Maroc, which is majority owned by French group Vivendi, has attracted interest from the Korean company as it seeks to gain a foothold in the African market.

KT previously failed to acquire a 20% stake in state-owned South African operator Telkom because of opposition from the government.

Vivendi is seeking to divest its 53% stake in Maroc Telecom in line with its strategic review of its assets, and the deal could potentially be worth up to €5.5 billion. The company is a third owned by the Kingdom of Morocco.

According to the Financial Times, France Telecom, Qatari operator Qtel and UAE-based Etisalat are all interested in acquiring the Moroccan operator.

KT has stalled in domestic growth by expanding abroad, with the aim of selling solutions in emerging markets, and it has already secured contracts with Mongolian and Uzbekistani operators. It has also built networks in Rwanda and Congo.

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