The sale of part of the government's 59 percent stake in Korea Telecom will be followed by the sale of 20 to 25 percent of Korea Tobacco & Ginseng Corp, the state-run former tobacco monopoly, in the form of depositary receipts.
The sale of the government's stake in Korea Telecom was delayed from last year because of the awarding of new mobile phone licenses in Korea, one of which a KT-led group won in December. In February the government offered 14.7 percent of the company to domestic investors and only found buyers for a 1.1 percent stake.
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