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SK Telecom Says No Plans to Buy US Cell Firm
Topics:Mergers & Acquisitions | Stock Picks | Stock Market | Corporate News
Sectors:Telecommunications
Companies:Sprint Nextel Corp | SK Telecom Corporation, Ltd. | Companies
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SK Telecom, South Korea's top mobile carrier, said on Thursday it was not planning to buy a controlling stake in any major U.S. mobile operator, brushing off earlier reports that it was seeking a stake in Sprint Nextel [S
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The comment came as a response to the local exchange's request to SK Telecom to clarify media reports on its U.S. expansion plans. Cable news channel CNBC reported on Tuesday that SK was negotiating to buy Sprint, the No.3 U.S. mobile service, which has been struggling to stem customer losses.
Copyright 2008 Reuters. Click for restrictions.
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COMPANY : Sprint Nextel Corp
COMPANY : SK Telecom Corporation, Ltd.
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