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Mr. Koh has been chairman of Singapore Telecom for 15 years.
The price of capital was zero for many industries -- telecom, for example -- for a pretty extended period of time there.
France Telecom, for example, is reorganising itself into consumer and business divisions, rather than fixed and mobile.
Debt-laden France Telecom, for example, has seen its shares slump by almost half in recent months.
He had previously ridiculed the boss of France Telecom for supposedly overpaying when it bought Orange, a British mobile firm.
A British newspaper reported that Cable and Wireless was planning to sell its 54percentt stake in Cable and Wireless Hong Kong to Singapore Telecom for $16 billion.
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Japanese Internet service provider Softbank said on Thursday it would buy Japan Telecom for $3 billion from U.S. buyout firm Ripplewood Holdings and others, gaining a foothold in Japan's lucrative corporate telecoms business.
As a result, said a spokesman for SK Telecom, "for defensive purposes, the company decided to participate in KT's privatization".
Investors did not punish British Telecom for the setback, and its shares rose by more than 3percentt.
Deutsche Telekom said it had agreed to acquire a 20percentt stake in Hellenic Telecom for 2.5 billion euros ($3.9 billion).
Cingular, a leading wireless phone company, has signed an agreement to buy wireless licenses for 34 markets from NextWave Telecom for $1.4 billion, the companies said yesterday.
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