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Sprint shrugs off bid from Korean cell carrier SKT

updated 03:45 pm EST, Fri November 30, 2007

Sprint Rejects SKT

Sprint has rejected a bid from Korean telecom provider SK Telecom, say reports. The American provider has reportedly declined a $5 billion investment in exchange for sharing the same phones and network knowledge. The change would have resulted in a change of management, however. This potential investment is widely believed to be connected to SKT's controlling stake in Helio, the latter of which piggybacks on Sprint's network for its youth-oriented phone service.

US-based Sprint is reportedly more focused on finding a replacement for its recently departed chief executive Gary Forsee and might also face legal repercussions from allowing such a large investment from a foreign company, which could potentially affect the greater US economy. Neither Sprint nor SKT has commented on the exact reasons for rejecting the offer or whether Sprint is seeking alternative investors.




by MacNN Staff

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  1. henjin

    Joined: Dec 1969

    0

    Helio/SKT are bad

    Returned my ocean within 30 days, they received it on the 24th of September. I have not received a refund. At first they denied it had been returned despite having prepaid my fedEx and the online proof. Then they lost my info. Now they claim they only owe me 175 instead of 211. They make AT&T/VZ/Sprint horro stories pale by comparison. And I am not alone. If this is an example of Korean and American biz then Sprint did well to refuse. The class action suites against Sprint would be massive for fraud, lying and cheating. That's essentially how Helio/SK have behaved with me. At every turn they change their story or lost my info. They act like a bankrupt company. For all its faults Sprint is nothing like Helio or SKT. As for everyone else be careful of Helio. If it works fine but if you want to cancel as is allowed under their contract, they keep your money.. I can't say any different as they have not as yet returned my money and the internet is full of stories like mine. Beware ...

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