SK
Telecom plans to invest up to $270 million in Helio, the wireless voice and data
services joint venture that the company shares with EarthLink. The MVNO had 130,000 subscribers in August, however it could post a loss of up to $360
million for the year. The continuous losses have been affecting EarthLink's bottom line. EarthLink's stock got a bump in the right direction upon announcing the SK Telecom cash infusion.
For more:
- read this press release [1]
- read this article [2] from BusinessWeek
Links:
[1] http://www.fiercewireless.com/press-releases/earthlink-confirms-preliminary-agreement-sk-telecom-fund-270-million-helio-joint-ve-0
[2] http://www.businessweek.com/ap/financialnews/D8RPSST00.htm