& cplSiteName &

Sprint Scuttles $5B SK Bid?

Dan Jones
11/29/2007

4:45 PM -- The Wall Street Journal is reporting that Sprint Corp. (NYSE: S) has rejected a bid by South Korea's SK Telecom (Nasdaq: SKM) and private-equity firm Providence Equity Partners to invest $5 billion in the company and put in its former chairman, Tim Donahue, as CEO.

Citing unnamed sources, the WSJ says that the consortium proposed the deal before Thanksgiving in a letter.

SK has been rumored to be looking to up its presence in the U.S. for a while now. The carrier pumped $270 million into its struggling virtual network operator venture Helio Inc. (See Wireless Funding Soars in September.)

— Dan Jones, Site Editor, Unstrung

(0)  | 
Comment  | 
Print  | 
Newest First  |  Oldest First  |  Threaded View        ADD A COMMENT
More Blogs from Jonestown
Amazon readies its low-power protocol Sidewalk for long-term IoT and smart home projects.
The iPhone 11 is carrying an ultra wideband (UWB) chip that has its supporters excited about new applications.
The real impact of low-band 5G? It will work better indoors!
Verizon has led the way with early high-band, millimeter-wave 5G, but the carrier faces lots of questions about how it can deploy 5G on low- or mid-band frequencies nationwide next year.
It's the summer of 5G in the US!
Featured Video
Upcoming Live Events
October 22, 2019, Los Angeles, CA
November 5, 2019, London, England
November 7, 2019, London, UK
November 14, 2019, Maritim Hotel, Berlin
December 3-5, 2019, Vienna, Austria
December 3, 2019, New York, New York
March 16-18, 2020, Embassy Suites, Denver, Colorado
May 18-20, 2020, Irving Convention Center, Dallas, TX
All Upcoming Live Events
Partner Perspectives - content from our sponsors
Multiband Microwave Provides High Capacity & High Reliability for 5G Transport
By Don Frey, Principal Analyst, Transport & Routing, Ovum
5G + Cloud + AI + Ecosystem, Opening New World of Video
By Samuel Chen, President, Cloud & Data Center Marketing, Huawei
All Partner Perspectives