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Vietnam: Korean telecom places S-Fone on hold.
Section: Business News - South Korean-invested telecom SK Telecom confirmed yesterday that it would make no further investment in S-Fone, putting the underperforming mobile service provider on life support.
Plagued by low profits and low subscription rates since it was launched in 2001, as a US$230 million business co-operation contract (BCC) between SK Telecom and Sai Gon Post and Telecommunications Corporation (SPT), S-Fone was only able to sign up about 7.3 million subscribers to its CDMA network, a market share of less than 10 per cent.
In a recent announcement, S-Fone had revealed that SK Telecom and SPT …
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