P1 confirms strategic alliance with SK Telecom

This is very interesting. After much speculation, Green Packet, the owners of P1, have confirmed that P1 and SK Telecom of Korea will be going into a strategic partnership with the Korea giant taking about a 25% stake in P1.

In a statement issued by Green Packet today, the purchase will pump in US$100 million (about RM330 million) investment money into P1. Though, the statement says that the proposed agreement between the two companies is subject to “certain closing conditions to be confirmed in June“.

In the telco game, RM300 million is considered chump change but it would be interesting to see what other injections in terms of knowhow and technology expertise that SK Telecom can offer to Malaysia’s leading WiMAX operator.

Looking forward to see what P1 can and will offer once this deal is confirmed.

[source, source]