Korea Telecom (KT Corp) is looking into buying Telkom’s iWayAfrica internet service as a way of breaking into the African market.
Korea IT Times is reporting the East Asian telecommunications giant has returned to the purchase it first attempted in 2011./p>
iWayAfrica offers a satellite internet service and is owned by South Africa’s Telkom and it is thought to cost KT Corp in the region of KRW20 billion (US$18.4 million).
That figure would be considerably less than the at least ZAR900 million (US$99.4 million) invested into iWayAfrica since 2007.
