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  Microsoft to buy 3.2 pct stake in KT Corp-newspaper
Time: 03:18 EST/08:18 GMT | News Source: Reuters | Posted By: Byron Hinson

South Korea plans to sell a 3.2 percent stake in the nation's largest fixed-line carrier KT Corp (KT) to U.S. software giant Microsoft Corp, a local newspaper said on Tuesday. The government will issue bonds with warrants as part of a strategic alliance between KT and Microsoft, the Korea Economic Daily said. ``Negotiations with Microsoft are going well,'' the newspaper quoted an official at the Planning and Budget Ministry as saying. ``The stake will be sold at more than 50,000 won ($38.96) per share.''
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