{"id":7001,"date":"2012-02-29T13:13:52","date_gmt":"2012-02-29T13:13:52","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=7001"},"modified":"2012-02-29T13:18:17","modified_gmt":"2012-02-29T13:18:17","slug":"kt-corp-may-abandon-offer-for-telkom","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/telecommunications\/7001\/kt-corp-may-abandon-offer-for-telkom\/","title":{"rendered":"KT Corp may abandon offer for Telkom"},"content":{"rendered":"<p>Absa Asset Management \u00a0says Korea Telecom (KT Corp) may cut the price of an offer to purchase a stake in Telkom (TKG) and may even abandon the 3.8 billion rand transaction, according to Bloomberg.<\/p>\n<p>Telkom and South Korea\u2019s largest phone and Internet company, began talks in October last year.<\/p>\n<p>KT Corp has offered 36.06 rand a share for 20% of Telkom, 36% higher than Telkom\u2019s current value, the media group reported.<\/p>\n<p>The stock has dropped by almost a fifth since announcing talks with KT Corp as it faces a possible antitrust fine of as much as 3.25 billion rand.<\/p>\n<p>\u201cThe market is bracing itself for maximum damage,\u201d Chris Gilmour, who helps manage the equivalent of $1 billion at Johannesburg-based Absa Asset Management, said. \u00a0KT Corp \u201cmight want to reduce the price and even opt out of the deal.\u201d<\/p>\n<p>Telkom and KT Corp declined to comment to e-mailed requests for comment from Bloomberg News.<\/p>\n<p>In afternoon trade, shares in the group declined 2.2% or 58 cents to R25.79 on the JSE.<\/p>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Absa Asset Management  says Korea Telecom (KT Corp) may cut the price of an offer to buy a stake in Telkom (TKG) and may even abandon the 3.8 billion rand transaction, according to Bloomberg.<\/p>\n","protected":false},"author":10,"featured_media":6209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[1782,1780,26,1665,1781,65],"class_list":["post-7001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-telecommunications","tag-absa-asset-management","tag-bloomberg-news","tag-headline","tag-korea-telecom","tag-kt-corp","tag-telkom"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/7001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=7001"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/7001\/revisions"}],"predecessor-version":[{"id":7004,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/7001\/revisions\/7004"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/6209"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=7001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=7001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=7001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}