Capital Group buys into KT&G with 5% stake

Capital Group, one of the world's largest asset managers, has acquired a more than 5 percent stake in South Korean tobacco company KT&G, adding its name to a growing list of heavyweight foreign shareholders. In a regulatory filing Friday, KT&G disclosed that Capital Research and Management Company, the investment management arm of the group, had acquired a 5.61 percent stake through purchases made on April 22 and May 4. The move places Capital Group among KT&G's prominent foreign shareholders, a

By The Korea Herald