SK Telecom invests $270M in Helio

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. 

"We are very pleased that with SK Telecom's funding, Helio will be able
to move forward with its innovative business plan without the need for
further investment by EarthLink, while continuing to allow our company to
have a substantial ownership interest in Helio's future," said Rolla P.
Huff, EarthLink President and CEO. "We believe this is good news for
EarthLink shareholders and is consistent with our statements over the past
two months."

For more:
- read this press release
- read this article from BusinessWeek

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