Sprint Shoots Down SK Telecom Offer
Published November 30th, 2007
Sprint Nextel’s board reportedly turned down a proposal that would have installed former chairman Tim Donahue as chief executive and brought $5 billion from a South Korean telecom company. Donahue, who retired at the end of 2006, made the offer as part of a consortium that included SK Telecom, the South Korean company, and Providence Equity Partners, according to reports on The Wall Street Journal’s Web site late Thursday that cited anonymous people familiar with the matter.
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