SK Telecom reportedly in talks to acquire Sprint Nextel

Jul 17, 2008 (Datamonitor via COMTEX) -- S | Quote | Chart | News | PowerRating -- South Korean wireless service provider SK Telecom is in preliminary negotiations to acquire American wireless carrier Sprint Nextel, reported CNBC, citing sources familiar with the matter.

The sources familiar with the matter opined that SK Telecom, which is relatively smaller in market value, may be joined by private equity firms for cash contribution towards the purchase.

In recent times, Sprint has been suffering from subscriber losses and drop in average revenue per customer. For SK Telecom, the acquisition, if successful, will be beneficial to expand its global footprint, as both SK Telecom and Sprint employ same wireless technology.

According to media reports, both the parties have not reached any decision on the price of the deal.

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