Update: Our sincere apologies. A translation error resulted in this erroneous interpretation of events. NTC shares are not for sale. For the correct translation of this article, please follow this link.
Korea Telecom (KT) Corporation's shares of New Telephone Company (NTC) will be put on sale priced at approximately US$592 million. This will mark the first time in KT's history that they put a extension of their company for sale. This news was announced on November 5th, 2009 through an international telephone call. The current value is an estimated 10% increase from last year's company value. KT Corporation expects an upcoming buyer in the near future.
NTC is a phone service provider located in Vladivostak, Russia. It currently has 1.35 million subscribers and WiMax frequency capabilities of 3.5GHz and 5.7GHz. KT bought this company's shares in 1997.
