South Korea's top mobile network operator SK Telecom said today it would invest US$100 million (RM329 million) to acquire a 25.8 percent stake in a Malaysia's Packet One (P1).

SK Telecom said it would sign a contract next month with Packet One Networks, Malaysia's leading provider of high-speed wireless broadband with about 139,000 subscribers.

The investment will be used as a springboard for SK Telecom's overseas expansion in Southeast Asia, the company said in a statement.

SK Telecom controls more than half of South Korea's mobile market.

- AFP