Ulaanbaatar /MONTSAME/ During its regular meeting on July 18, Tuesday, the Cabinet resolved to purchase 40 percent of the shares of ‘Mongolia Telecom Company’.
The decision was made after ‘KT Corporation’ of the Republic of Korea made an offer to the Government of Mongolia on selling its 40 percent or 10 million 348 thousand 111 shares at the rate USD 2 million 550 thousand.
‘Mongolia Telecom Company’ operates 6 departments, 15 divisions, 4 branches in Ulaanbaatar and 23 branches in provinces, employing 856 staff. The Government of Mongolia owns 54.67 percent of its shares, and ‘KT Corporation’ owns 40 percent while 5.33 percent is owned by Mongolian and foreign nationals.
The company’s performance covers 25 percent of landline telephone market and 11.3 percent of broadband internet market.