Sprint Nixes Investment Bid from SK Telecom
Nov 29, 2007, 4:21 PM by Eric M. Zeman
updated Dec 11, 2007, 10:03 AM
Before the Thanksgiving holiday, SK Telecom and private equity firm Providence Equity Partners offered to invest $5 billion in Sprint. The terms of the proposal would have had former Nextel CEO Tim Donahue return to helm the company. Donahue planned to bring in an entirely new management team. Sprint turned down the offer without discussing the proposal with SK Telecom or Providence Equity Partners. Sprint and SK Telecom have several things in common. SK Telecom is a CDMA carrier in the middle of deploying a WiMAX network of its own, just as Sprint is doing. SK also owns a majority stake in Helio, another US CDMA carrier.
more info at Wall Street Journal »
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Comments
| Subject | Author | Date |
| OMG how stupid can sprint get!!!! | Cellenator |
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| This decision was for the best! | knx2 |
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