SK Telecom swings control their way, takes management control of Helio
By Will Park on Friday, November 9th, 2007 at 3:19 PM PST In Announcements, Financial, Helio, Partnerships, Symbian Smartphone Show
It looks like that little wireless venture between Earthlink and SK Telecom (NYSE: SKM) has finally hit a crossroads. Helio has been thus far managed on two fronts - with investors Earthlink and SK Telecom getting equal say in Helio’s future. Well, it seems that Dusan’s mention of Earthlink taking a lesser role in Helio was pretty much on point. SK Telecom was set to pump more (much needed) cash into the hemorrhaging carrier, and today it was announced that SK Telecom will be investing another $70 million into Helio - effectively giving them a controlling stake in the company and the right to direct the company’s development.
We’ll have to wait and see how Helio fares in the long run. With SK Telecom at the helm, we’re hoping to see some of those uber-cool Korean handset start to hit US shores.
[Via: Reuters]
