Saturday, June 10, 2023

South Korea’s SK Telecom to buy stake in P1?

Sources claim that SK Telecom is very close into buying a small part of Packet One, one of the top WiMAX operator in the world owned by Green Packet.

It is believed that the sale may raise up to US$100m but I don’t think it will be enough for P1 to expand into East Malaysia and Singapore.

“So far, a few parties have approached P1. Talks are still in the early stages. Nothing is finalised yet. It may take months before anything concrete happens,”

Money from the share sale would come in handy for P1’s aggressive plans to expand its network coverage in the country.

P1 has invested close to RM600 million since it launched its broadband services about two years ago. It had some 139,000 subscribers last year.

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Kugan is the co-founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy

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