Korean telecom operator SK Telecom announced that
the company is currently in talks with hedge fund Harbinger Capital Partners to
invest US$100 million in US wireless operator LightSquared, according to a
September 20, 2010 report by Reuters. SK Telecom is projected to be discussing
the terms of the investment with Harbinger now. It is reported that LightSquared
is going to use LTE (Long Term Evolution) technology to deploy an open wireless
broadband network. SK Telecom schedules to start launching LTE in Korea in 2011
and complete nation-wide LTE coverage by 2013 in a bid to tap increasing data transmission
demand.
SK Telecom sold its mobile phone unit in the
United States Helio to Virgin Mobile USA in 2008, and the Korean company sold its
entire 3.8% stake in China Unicom for US$1.3 billion in October 2009.