The Korea Economic Daily reported today that SK Telecom planned on acquiring Sprint Nextel and was in the process of contacting private equity funds to help with the purchase, but the carrier immediately denied the report. "It is totally groundless," SK Telecom spokesperson Song Gwang-hyun said.
SK Telecom claims more than half of the 40 million mobile subscribers in South Korea, has a $1 billion stake in China Unicom and has a growing mobile service in Vietnam. SK Telecom is also the half-owner of U.S. MVNO Helio, which it co-owns with Earthlink.
For more on the report:
- read this article from Shanghai Daily