SK Telecom to Assume Control of Helio
Humberto SaabedraSK Telecom, the second largest wireless carrier in South Korea has announced that it has invested an additional $70 million from a stated total investment of $200 million in handset and marketing development into Helio, the loss-generating joint venture started by SK Telecom and internet service provider Earthlink in 2005.
SK Telecom had previously stated that it had not expected Helio to draw further capital from either parent company, with this move seen as a way to salvage its current strategy of foreign investment as the carrier seeks growth outside of its saturated home market, even stating that it will take Helio and find a strategic partner if necessary.
