KTF to buy into Mobile-8 Telecom

Wed, 08 Oct 2003, 00:00 WIB | Source: AFP

SEOUL: South Korea's second largest wireless operator KTF said
on Tuesday it has signed a contract to acquire a 2.9 percent
stake in Indonesia's PT Mobile-8 Telecom in return for a US$10
million investment.

With the investment, KTF will become the Indonesian company's
preferred partner in its wireless Internet services. KTF has
provided consultations on mobile services to PT Mobile-8.

KTF hopes to use its partnership with PT Mobile-8 as a
foothold for its overseas businesses.

South Korean mobile carriers are seeking new businesses
overseas because of competition in a domestic market saturated
with 33 million mobile phone subscribers in a population of 48
million.--AFP

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