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South Korea's KT To Acquire Stake In Chinese Mobile Service Provider

South Korean telecom operator KT has announced plans to acquire 25% stake in Omnitel China, a Chinese mobile phone content service provider.

According to reports in local media, Omnitel China is the Chinese subsidiary of the South Korean telecom service company Omnitel. It provides services like ring tones to about 12 million users in China via Chinese telecom operators. At present, the company's major partner is China Mobile.

To improve the profitability of the company, Omnitel China also promotes research and development of new value-added services, including mobile phone games.

Maeng Soo-ho, director of KT's global business department, told local media that KT supports its subsidiaries and other South Korean mobile phone content service providers to enter the Chinese market to seek new business opportunities. Its acquisition of the 25% stake in Omnitel China aims to serve this goal.