Further investments in Vietnam cancelled by SK Telecom

www.WirelessFederation.com/news: Low profit and low subscriber growth made ¬South Korea’s SK Telecom to cease investing in its Vietnamese subsidiary. However, the company’s S-Fone partnership with Saigon Post andTelecommunication Corporation (SPT) will remain intact but S-Fone’s plans to deploy a 3G network will be endangered by the move.

An agreement to convert the cooperation into a formal joint venture is reported to be linked to the decision. This will be followed by selling a stake to South Korea-based private equity fund, Rutter Associates. With around 2.5 million customers by the end of last September, the operator has a market share of just 2.5%.