By Jungah Lee – Bloomberg 26/12/2012
KT Corp. (030200), South Korea’s second- largest mobile-phone carrier, submitted a preliminary bid for Vivendi (VIV) SA’s stake in Moroccan carrier Maroc Telecom SA (IAM) as it aims to expand in Africa.
The bid, made Dec. 17, is non-binding, Kate Kim, a spokeswoman for Seongnam-based KT, said by phone today. Paris- based Vivendi is seeking to sell its 53 percent stake in Maroc for about 5.5 billion euros ($7.3 billion), the Korean-language Economic Daily reported earlier.