South Korea's government has decided to sell part of its stake in Korea Telecom Corp. (Kt) to US software giant Microsoft Corp., a report said on Monday. A committee overseeing the privatization of state-owned firms has approved the government's plan to sell 3.2 percent of its KT shares, Yonhap news agency said. The government plans to divest its 40.1 percent stake in KT by the end of June next year.
KT and government officials declined to confirm the report. We cannot comment on the report, A planning and budget ministry official said. Yonhap said committee members also decided to sell another eight to nine percent of KT to foreigners by the end of the year.

Bureau Report