A couple of days ago news came out that Korean communications giant SK Telecom was in talks with Sprint to acquire them. Apparently that report wasn’t quite right and the company clarified their interests.
While SK Telecom is in talks with Sprint, it’s not to acquire the them. Instead, SK Telecom is interested in possibly collaborating on technology.
In a filing to the Korea Exchange, SK Telecom said “we are studying various business opportunities in the United States but are not seeking to take control in (any) major U.S. mobile operator.”
Korean communications company SK Telecom has announced that they are in talk with US cell carrier Sprint about acquiring the struggling company.
Sprint is currently the third largest cell carrier in the US, so the move would give SK Telecom a pretty big footprint in the US assuming there wouldn’t be a regulations issues with foreign ownership of the company.
What would SK Telecom do to revive Sprint? We may get to find out.
South Korea’s SK Telecom tried to play it cool by saying that it was not in talks with Virgin Mobile, but Virgin Mobile says otherwise otherwise.
According to Virgin Mobile, they are in talks with SK Telecom regarding “strategic opportunities”.
Virgin Mobile is currently larger than Helio (currently owned by SK Telecom), but neither has their own cellular network and rely on purchasing time from other carriers, like Sprint.
SK Telecom is keen on getting itself a bigger piece of the US cellular market so maybe they’ll also be scooping up Nextel and/or Sprint?
A few days ago mocoNews reported that according to a source Virgin Mobile and Helio were talking merger and one possible scenario was SK Telecom (owner of Helio) buying Virgin Mobile, do a cash infusion, then Virgin Mobile would buy Helio in an all-stock transaction.
SK Telecom is denying the deal, saying that they are not in “any sort of talks” and that the rumors are “groundless.”
Something interesting, though, is that they are “actively seeking” ways to grow their US cellular business.
Something is likely up, SK Telecom is just not ready to talk about it.
According to a story at mocoNews, a source is telling that Virgin Mobile is in talks with small, financially challenged carrier Helio to potentially merge the two company’s.
Until late last year Helio had been co-owned by Earthlink and Korean communications giant SK Telecom until taking full ownership with a $70 million buyout.
Virgin, having recently announced their Q1 earnings results, isn’t exactly swimming in pools of money either.
Under one possible scenario SK Telecom would buy Virgin Mobile and do a cash infusion, then Virgin Mobile would buy Helio in an all-stock transaction.