SK says it's not planning to buy Sprint

SK Telecom confirmed that the company has no plans to buy Sprint Nextel or any other major U.S. wireless company. Earlier this week, rumors circulated about a potential merger between the two after a CNBC story said that the two were in talks. That report was later debunked saying instead the two were considering a partnership in which they would jointly develop handsets and services. SK has now confirmed that it is considering various business opportunities in the U.S. but not seeking to take control over any major U.S. operator.

If the two are considering jointly developing handsets and services, most agree it would be beneficial to both. SK, while much smaller than Sprint, has similar partnerships with carriers in countries such as China and could help build scale. In addition, SK is known to be technologically advanced and has recently been offering handset-based video conferencing.

Meanwhile, Sprint has shown some signs of a rebound. The company's new Samsung Instinct phone is selling well and the company is expected to have improved its churn when it reports its second-quarter earnings on Aug. 6.

For more:
- see this Kansas City Star report

Related stories:
SK and Sprint: considering alliance, not merger
SK Telecom contemplating Sprint acquisition
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