KT Freetel: Approached by Taiwan's VIBO Telecom to Buy Stake

SEOUL -(Dow Jones)- South Korea's KT Freetel, Tuesday said that it has been approached by Taiwan's VIBO Telecom over the possibility of it acquiring a stake in the Taiwanese mobile services provider.

"VIBO has approached us to sound us out about a possible investment in the company," said KT Freetel spokeswoman Yeon-Ju Lee. "We're looking at the company for investment, but it's too early to decide on anything. We're at a very initial stage."

She was responding to an unsourced report by Taiwan's Economic Daily News that said KT Freetel is in talks with VIBO Telecom over an investment.

KT Freetel would be vying with Hong Kong's Hutchison Whampoa for a stake in VIBO, the Chinese-language newspaper also said.

-By In-Soo Nam, Dow Jones Newswires; 822-2198-2234; In-Soo.Nam@dowjones.com

(END) Dow Jones Newswires

Posted to the site on 8th July 2008