SK to pour USD280 million into S-Fone

11 Nov 2005

South Korean telco SK Telecom says it will invest up to USD280 million in its Vietnamese mobile joint venture, S-Fone, in an attempt to sign up four million subscribers by 2008. Part of the planned investment involves SK buying USD100 million of new shares in the cellco in 2006. S-Fone currently has around 300,000 customers, far behind state-run rivals VinaPhone and MobiFone, both of which have three million subscribers, and Ministry of Defence subsidiary Viettel, with over a million users.