SK Telecom to acquire Sprint/Nextel?
By Dusan Belic on Friday, July 27th, 2007 at 5:59 AM PST In Rumors, Sprint
Can you imagine a South Korean telecom jumping in the U.S. market? Germans are already present via T-Mobile (NYSE: DT), while Vodafone (NYSE: VOD) has a decent stake in Verizon (NYSE: VZ), so what’s wrong with Koreans entering the market. Absolutely nothing!!! I would even add it’s a good thing, especially if they bring their cool handsets and awesome 3G services to the U.S. soil!
Anyway, according to the always well informed Boy Genius, SK Telecom (NYSE: SKM) is in talks to acquire Sprint (NYSE: S)/Nextel. Not many things are known at this stage, but we assume the Korean telco would like a piece of the American pie — they already have 40 million subscribers in domestic market, a stake in 2nd largest carrier in China, and are also involved in various other ventures across Asia. On the other side of the fence, Sprint could use some additional cash to hurry up with its WiMAX network roll-out…
We’ll watch this space carefully. Stay tuned…
