South Korea-based SK Telecom is looking to acquire US-based Sprint Nextel. The move will enable SK Telecom to gain a foothold in the US market. Sprint has been a subject of takeover speculation since May 2007, when Alltel orporation agreed to a $25 billion buyout. SK Telecom has recently announced its quarterly results. It has reported an 8 per cent rise in quarterly net profit to $441.4 million for the quarter ended June 2007.
