Printed from http://www.electronista.com

SK Telecom seeks "major" Sprint stake

updated 11:00 am EDT, Thu July 17, 2008

SKT Wants Sprint Stake

SK Telecom isn't interested in a direct takeover of Sprint but is nonetheless interested in gaining a clear stake in the American wireless carrier, according to reports. The Korean company now denies that it has any plans to completely buy out Sprint but is now said by sources of BusinessWeek to be mulling a "major stake" in the cellular provider that would require seats on Sprint's board of directors, handing a significant amount of influence to SK Telecom over larger decisions.

The potential bidder declines to comment on the specific rumor but admits it has been "exploring and seeking opportunities" to give itself a greater role in US business. It recently lost some of its control after Virgin purchased Helio last month, giving up its majority involvement in Helio for about 17 percent in the newly expanded Virgin.

Sprint hasn't commented on the deal but is thought to be investigating these kinds of deals to boost its cash flow and help recover from steady losses that it's only now recovering from with the help of the Samsung Instinct, similar devices, and simplified service plans.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Lemur BlueDriver

"Oh no, the check engine light is on…again! What one of the hundreds of reasons could it be this time? Probably going to cost a fort ...

Sponsor

toggle

Most Commented

 
toggle

Popular News