The Mongolian Government is to purchase 40 percent of the shares of the Mongolia Telecom Company from  the KT Corporation of the Republic of Korea. The Mongolian Stock Exchange will organise the purchase. As a result, the Mongolian Government will own a total of 94.67 percent of the company.

The Government of Mongolia currently owns 54.67 per cent of the company’s shares, whilst the KT Corporation owns 40 per cent and foreign and Mongolian citizens hold the remaining 5.33 percent of the shares.

In the 2018 budget, the Cabinet approved USD 2 million 550 thousand funding for purchasing the 10,348,111 shares belonging to  the KT Corporation.

Telecom Mongolia was founded in 1921 and has 6 administrative centres, 15 departments, 4 branch offices in Ulaanbaatar and 23 in the country’s provinces; it employs 856 people. The company’s markets of fixed line, fixed-line internet and cable television has been declining steadily. Recent research indicates that it currently owns 25% of market fixed line and 11.3% of fixed line internet.