SK Telecom Allocates $70 Million To Helio, Gains Control
By James Quintana Pearce - Fri 09 Nov 2007 03:04 PM PST
SK Telecom (NYSE: SKM) has allocated $70 million of the $100 million it promised Helio back in July, and since Earthlink (NSDQ: ELNK) seems to have yet to allocate its funds the injection will give SK Telecom a controlling stake in Helio reports Reuters (via Engadget). That situation is unlikely to change, since SKT promised another $270 million in September which was unmatched by Earthlink. No decision has been made on the timing and the exact amount of the second investment, the SK spokesman said on Friday.
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