KT Corp. said Thursday the company was considering acquiring Woongjin Coway, the nation’s largest water purifier manufacturer up for sale since February.
“We are considering possible acquisition of stakes at Woongjin Coway but nothing has yet been decided,” the nation’s second-largest telecom carrier said in response to an inquiry from the Korea Exchange on the day.
“Within one month or when any details are finalized, we will make a new announcement.”
According to industry sources, KT had received an investment letter from Goldman Sachs, which is managing the sale process.
KT’s announcement came after the Korea Exchange requested the company to clarify its position on rumors about a possible takeover bid.
Aside from KT, local conglomerates including Lotte Group and GS Group and other equity firms such as MBK Partners are known to be joining the heated race for Woongjin Coway.
Global companies including Siemens, Philips and China’s Haier are also speculated to be considering an acquisition.
