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SK Telecom Denies Plans To Buy Stake In “Any” Major US Carrier

In a filing with the Korea Exchange today, SK Telecom (NYSE: SKM) rejected the notion that it is planning to buy a stake in any of the US’s major carriers, reports Reuters. “We are studying various business opportunities in the United States but are not seeking to take control in (any) major U.S. mobile operator,” the Korean carrier stated, after the exchange ordered SK to come clean on the rumors that started on Tuesday when CNBC reported that SK was in talks to buy Sprint (NYSE: S). This was quickly shot down, with new reports saying the two companies were actually discussing collaborating on technology. Of course, SK Telecom did call the rumors of a Virgin Mobile-Helio tie-up “groundless.”

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Jul 17, 2008 5:41 AM ET

Posted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, SK Telecom, SprintNextel

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