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SK Telecom buys into Malaysia WiMAX market

Posted: 14 Jul 2010 ?? ?Print Version ?Bookmark and Share

Keywords:WiMAX? Malaysia network? 4G? wireless?

Korea mobile service provider SK Telecom and Packet One Networks (P1) (Malaysia) Sdn Bhd announced that SK Telecom will acquire a stake in P1. The move pushes forward P1's 4G WiMAX rollout. Costing about $100 million, the acquisition makes SK Telecom the second largest shareholder of P1 after Green Packet Berhad.

The SK Telecom investment will fund the continuation of P1's nationwide WiMAX rollout over the next two to three years. It will also be used to accelerate and expand its customer acquisition activities and to support general corporate purposes. SK Telecom will make available to P1 its substantial technology and network expertise as well as its customer products portfolio. The partnership aims to position SK Telecom to participate in other WiMAX and wireless broadband opportunities across Southeast Asia and other emerging markets.

Green Packet Berhad Group managing director and CEO CC Puan said, "P1's strategic alliance with SK Telecom will significantly enhance P1's ability to serve the Malaysian broadband user needs with 4G WiMAX technology."

P1 CEO Michael Lai explained, "In the 1990s, South Korea set a priority that it would be a highly connected country with a high degree of Internet literacy. Today the country has one of the fastest broadband connections with more than 94 percent of its population connected to high-speed broadband. With the support of the government, South Korea's telecommunications providers have built the world's most comprehensive Internet network, supplying affordable and reliable access to the public. We, together with the government of Malaysia are determined to follow suit and continue to chart our path to fulfill P1's 'Broadband for All' mission."

Aside from this recent strategic alliance with SK Telecom, P1 has been working closely with Intel, which invested about $15 million in 2008 to support P1's deployment plans via parent company, Green Packet Berhad. Intel, in collaboration with P1, launched Malaysia's first WiMAX-ready 4G laptops.

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