SK Telecom Invests Another $270 Million In Helio
Sep 21, 2007, 1:17 PM by (staff)
Earthlink stated today that SK Telecom has invested an additional $270 million into the two companies' MVNO joint venture, Helio. Up to now, the two companies split their investments in Helio 50/50 and both had pledged $100 million in added funding in June. This extra cash infusion from SK Telecom will probably tip the balance in SK Telecom's favor, and both firms noted that they will update existing agreements about Helio's governance. Helio has about 130,000 subscribers, and believes it will cross the 200,000 mark by the end of the year. It will lose approximately $340 to $360 million for the 2007 fiscal year.
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