SEOUL: South Korea's leading mobile carrier SK Telecom Co said Tuesday, June 29 it has acquired a 25.8% stake in a wireless broadband company in Malaysia for US$100 million (RM323 million), reports Yonhap News Agency.
With the stake purchase, SK Telecom has become the second-largest shareholder of Packet One Networks (P1), a provider of the high-speed wireless broadband network WiMAX based in Petaling Jaya, the South Korean company said in a statement.
The investment also gives SK Telecom two out of seven seats on the board of directors for P1.
A subsidiary of GREEN PACKET BHD [], P1 is the largest WiMAX provider in Malaysia, with 139,000 subscribers as of end 2009.
Through the alliance, P1 will seek to secure one million wireless broadband subscribers in Malaysia and a network coverage of 65% of the population by 2012, SK Telecom said.
The South Korean mobile carrier, which controls slightly more than half of the domestic wireless market, said it saw significant growth potential in the Southeast Asian country.
The company estimates Malaysia's broadband subscribers to surge nearly five-fold from 2.6 million in 2009 to 12.7 million in 2019.
The investment will also help SK Telecom expand its clout in the wireless market in emerging Asian countries, the company said. ' Bernama
With the stake purchase, SK Telecom has become the second-largest shareholder of Packet One Networks (P1), a provider of the high-speed wireless broadband network WiMAX based in Petaling Jaya, the South Korean company said in a statement.
The investment also gives SK Telecom two out of seven seats on the board of directors for P1.
A subsidiary of GREEN PACKET BHD [], P1 is the largest WiMAX provider in Malaysia, with 139,000 subscribers as of end 2009.
Through the alliance, P1 will seek to secure one million wireless broadband subscribers in Malaysia and a network coverage of 65% of the population by 2012, SK Telecom said.
The South Korean mobile carrier, which controls slightly more than half of the domestic wireless market, said it saw significant growth potential in the Southeast Asian country.
The company estimates Malaysia's broadband subscribers to surge nearly five-fold from 2.6 million in 2009 to 12.7 million in 2019.
The investment will also help SK Telecom expand its clout in the wireless market in emerging Asian countries, the company said. ' Bernama
No comments:
Post a Comment