$100 Million to be invested by SK Telecom in Malaysian WiMax Operator
May 29, 2010
The Leading mobile carrier in Korea, SK Telecom has recently stated that they will invest an amount of $100 million in the Malaysian WiMAX service operator called Packet One Networks. The step has been taken by the company so as to expand its Asian market of wireless broadband. Under this deal, after the final signing of the contract, the SK Telecom will acquire 25% of the stake in Packet One.
Packet One, after starting its first WiMAX services in Malaysia secured around 139,000 subscribers in the year 2009. The company also plans to provide WiMAX coverage to 40% or 10 million of the population during this year.
SK Telecom stated that with the investment in the Malaysian operator the company expects to use it as a springboard so as experience overseas expansion in the Southeast Asia. SK Telecom recently has also agreed to set up a joint venture with biggest phone company of Indonesia, PT Telekomunikasi so as to enter the market of mobile content.
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