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SK Telecom Takes Controlling Stake in Helio

Nov 9, 2007, 9:09 AM by (staff)
updated Nov 9, 2007, 11:36 AM

SK Telecom has decided to finally invest $70 million out of the $300 million total it had so far pledged to the Helio MVNO joint venture with Earthlink. Both SK Telecom and Earthlink pledged $100 million of additional funding for Helio back in June. SK Telecom pledged an additional $200 million in September. Until now, no money had actually been funded to Helio. Because SK Telecom is taking this step, its total actual and pledged investments will surpass Earthlink's, causing it to gain control of Helio's governance.

Reuters »

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Comments

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coziamnumber1

Nov 9, 2007, 10:00 AM

they should invest in Sprint as well

and merge the two brands onto one company.

Versed

An idea but don't think Sprint wants to be the one taken over, nor why should they bother? They make more on Virgin Mobile, which they do have a ownership steak (in the US)and is already sold in far more places as well as in their corporate store.

...

Omagus

Wasn't there a rumor about this happening a few months ago?

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SK Telecom Takes Controlling Stake in Helio

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