KT Corp bids for Maroc Telecom majority stake

South Korea’s second largest mobile phone carrier, KT Corp, has submitted a bid for Vivendi’s controlling stake in Maroc Telecom, Morocco’s largest telecoms operator. The offer is a second attempt by the South Korean firm to get a foothold in Africa. In June, it sought to buy a 20% stake in South Africa’s state-run Telkom but ran into opposition from the South African government. Vivendi is reportedly looking to raise €5.5 billion ($7.3 billion) for its 53% stake in Maroc.