SK Telecom Takes Controlling Stake in Helio

posted Nov 9, 2007, 9:09 AM
updated Nov 9, 2007, 11:36 AM

SK Telecom has decided to finally invest $70 million out of the $300 million total it had so far pledged to the Helio MVNO joint venture with Earthlink. Both SK Telecom and Earthlink pledged $100 million of additional funding for Helio back in June. SK Telecom pledged an additional $200 million in September. Until now, no money had actually been funded to Helio. Because SK Telecom is taking this step, its total actual and pledged investments will surpass Earthlink's, causing it to gain control of Helio's governance.

more info at Reuters »

12 comments on this news item ›

Related news:
SK Telecom Invests Another $270 Million In Helio Sep 21, 2007
Virgin Mobile USA to Buy Helio Jun 25, 2008
SK-Earthlink Rebrands as Helio Oct 26, 2005
Virgin Mobile USA Buys Helio for $39 Million Jun 27, 2008
SK Telecom Considering Offer For Sprint Jul 10, 2007

more related news ›