South Korea’s SK Telecom has become the second largest share-holder in Malaysian wireless broadband company Packet One Networks (P1) by acquiring a 25.8 per cent stake in it for $100 million

South Korea’s SK Telecom has become the second largest share-holder in Malaysian wireless broadband company Packet One Networks (P1) by acquiring a 25.8 per cent stake in it for $100 million. Following the acquisition deal, P1 intends to garner a million wireless broadband subscribers in Malaysia by end-2012, with network coverage of 65 per cent of the population. P1 currently has around 35 per cent population coverage with a footprint in the Klang Valley, Penang, Ihor, Kuantan and Kuala Terengganu.