SK Telecom and Virgin Mobile in talk about Helio
Submitted by cpv on Mon, 05/19/2008 - 01:49.
Korean's SK Telecom and Richard Branson's Virgin Mobile are in talk for strategic option. Well, it is a term used for any purchase or acquisition regarding business matter. This time, the target is Helio.
Helio LLC is a US phone company, of which SK Telecom has majority ownership. Virgin Mobile is a MVNO (Mobile Virtual Network Operation) company that buy network from carriers, instead of having own. Until March, there are 5.1 million subscribers listed in Virgin Mobile.
Most MVNO are failed to continue doing business, like Disney Mobile, ESPN Mobile, Amp'd Mobile. Helio, in the other hand, is joint venture to bring the sophisticated Korean phones to US market.
[ via AP ]
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