KT is reported to purchase 20% stake in Telkom South Africa, according to an October 14, 2011 report by Bloomberg. Telkom South Africa is a major fixed-line phone company in South Africa. Telkom South Arica said that the company is likely to sell new shares to KT at a price tag of 36.06 rand (US$4.61; US$1=7.82 rand) per share. It is reported that the South African government holds 39.8% of the company.