SK Telecom to stop investing in its Vietnamese subsidiary
South Korea’s SK Telecom ( NYSE: SKM ) is ceasing further investment in its Vietnamese subsidiary due to lower than anticipated profits and subscriber growth. However, the company says that it doesn’t plan to withdraw from its S-Fone partnership with Saigon Post and Telecommunication Corporation (SPT), only that it will wait with the 3G network rollout. Korea Times newspaper interviewed a high-ranking SK Telecom, who said: “Since 2003, it has been investing over $150 million in Vietnam attracted by higher growth potential in Vietnam’s telecom market
Go here to see the original:
SK Telecom to stop investing in its Vietnamese subsidiary