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SK Telecom to Sell Its Stake in Virgin Mobile

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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Comments

This forum is closed.

This forum is closed.

Disrespect

Jul 29, 2009, 8:01 AM

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$$ 🤣

gsmcentral

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.

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