KTHitel Co., Ltd. (KOSE:A036030) agreed to acquire 0.4% stake in KT Corp. (KOSE:A030200) for KRW 34.9 billion on September 26, 2013. KTHitel will acquire 0.99 million shares paying KRW 35350 per share.

The Board of Directors of KTHitel resolved the transaction on September 26, 2013. The acquisition is expected to close on December 4, 2013. The transaction has been resolved by Board of Directors of KTHitel Co., Ltd. on February 14, 2014 and is expected to close by March 11, 2014.

As of February 28, 2014, transaction is expected to be completed on March 19, 2014.