SK Telecom to Sell Its Stake in Virgin Mobile
Article
Comments 4
Jul 29, 2009, 7:38 AM by Eric M. Zeman
Because Sprint Nextel has decided to purchase Virgin Mobile, SK Telecom has decided to sell its entire stake in the MVNO, which will be acquired by Sprint in late 2009. SK Telecom invested heavily in the MVNO Helio, which was acquired by Virgin Mobile in 2008. SK Telecom was granted 15.3% ownership of Virgin Mobile due to its investment in Helio. SK Telecom initially thought it might partner with Sprint moving forward, but because the percentage of Sprint stock being offered to SK Telecom is so low, SK Telecom has chosen to sell off its entire stake.
Yahoo News / AFP »
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LMAO!
This all reminds me of the board game Monopoly when someone lands on your property and has hotel's and trys to bargain with you and no matter how sweet the deal is, you simply tell them, "I want that cash" and put the flame to their a$$ 🤣
Basically it means SK doesnt trust Sprint with its investment. With Sprint's past history in shooting itself in the foot I don't really blame them.