KT mulls business cooperation with Moroccan telecom firm

South Korea's top fixed-line and No. 2 mobile operator, said Tuesday that it may consider a business cooperation with Moroc Telecom, although it had dropped a bid for a stake in the Moroco-based telecom operator. In April this year, KT said it would not participate in a final bid for a 53-percent stake in Maroc Telecom, which is controlled by French multimedia giant Vivendi SA, citing differences over price. "But we will seek various cooperation with Moroc Telecom depending on the situation," it said in a regulatory filing. KT has been seeking to expand its global business in a bid to tide over the saturated domestic telecom market. In July last year, the company said it is targeting 3.9 trillion won (US$3.47 billion) in annual revenue from global businesses by 2015. In order to meet that goal, the company said it plans to focus on emerging markets by buying stakes or forming strategic partnerships with telecommunications firms in those markets.