On 18^th of July, the Cabinet decided to purchase 40 percent of the shares of ‘Telecom Mongolia’.

The ‘Mongolia Telecom Company’ operates 6 departments, 15 divisions, 4 branches in Ulaanbaatar and 23 branches in the provinces; it  employs 856 staff. The Government of Mongolia owns 54.67 percent of its shares, and ‘KT Corporation’ of South Korea owns 40 percent; 5.33 percent is owned by Mongolian and foreign nationals.

The ‘KT Corporation’ has made an offer to the Government of Mongolia regarding the sale of 40 percent or 10 million 348 thousand 111 shares at the rate of USD 2 million 550 thousand.

The ‘Telecom Mongolia’  covers 25 percent of landline telephone market and 11.3 percent of the broadband internet market.