The block trading of MSE listed ‘Telecom Mongolia’ JSC, will be organized at the Mongolian Stock Exchange in order to transfer a 40 percent stake from ‘Korea Telecom’ JSC of South Korea to the Government of Mongolia in accordance with the agreement between the Government of Mongolia and ‘Korea Telecom’ JSC.
‘Telecom Mongolia” JSC was founded in 1921 and operates as a telecommunications company in Mongolia. Its services include international telephone service, long distance and local telephone services, TV and radio broadcasting service, internet service and information service. Telecom Mongolia is currently 54.67% owned by the state, 40% by Korea Telecom JSC and the remaining 5.33% is distributed to public. After the block trading, 94.6 percent of shares will be owned by Mongolian Government.
Source: Mongolian Stock Exchange