Tuesday, July 15, 2008

South Korean company wants to Buy Sprint!

Source:
http://www.cnbc.com/id/25691970

http://news.cnet.com/8301-1035_3-9991928-94.html

http://online.wsj.com/article/SB121615300294655639.html

SK Telecom, the largest provider of wireless phone service in South Korea, is in talks to acquire Sprint Nextel, the troubled U.S. wireless carrier, according to people familiar with the talks.
SK Telecom, which is smaller than Sprint would be joined in any deal by private equity firms that would contribute cash towards the purchase, sources told CNBC.


A deal is not imminent and while the talks are on-going, participants caution that any agreement would at best be weeks away. The board of Sprint, which has been struggling with significant subscriber losses, is divided about whether to sell the company as some of them hold a belief that a turnaround for the company may not be far off, according to people briefed on its position. "
...
"Again, that does not mean a deal is imminent. Sprint briefly entertained takeover talks a few months back with Deutsche Telekom"


If Sprint is indeed acquired, I wonder what impact would that have on Sprint's voice and data plans and prices...

2 comments:

Anonymous said...

Update: This looks to be a false alarm. Both Reuters and the Wall Street Journal are citing other sources that say the talks are about collaborating on technology, and not about an acquisition.

Anonymous said...

You are correct. There is another post in the blog regarding this.

Search in Older Posts