KT Corp. (KT) Enters Talks to Acquire 20% Interest in Telkom for $600M
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KT Corporation (NYSE: KT) entered into discussions regarding a potential strategic venture that would, if implemented, result in KT Corporation acquiring a strategic equity shareholding of 20 percent in the post-issue ordinary share capital of Telkom and the Companies entering into long-term agreements to formalize the relationship and identified areas of mutual strategic and business cooperation.
Should the Potential Strategic Venture be agreed, Telkom and KT Corporation will implement the Potential Equity Investment by way of a specific issue of new Telkom ordinary shares for cash at an issue price of ZAR36.05 per new Telkom ordinary share. (to acquire approximately 20 percent of Telkom’s total outstanding shares, for approximately $600 million).
Should the Potential Strategic Venture be agreed, Telkom and KT Corporation will implement the Potential Equity Investment by way of a specific issue of new Telkom ordinary shares for cash at an issue price of ZAR36.05 per new Telkom ordinary share. (to acquire approximately 20 percent of Telkom’s total outstanding shares, for approximately $600 million).
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