20 April 2009 – KT Freetel (KTF), South Korea's second-largest mobile operator, is to sell-off its 16.5 percent stake in Malaysian mobile operator, U Mobile, reports Bloomberg. Citing a KTF regulatory filing, the report said that KTF will sell its 62.6 million shares in the operator to U Mobile's majority shareholder, U Television, in a deal said to be worth at least US$100 million. The sale is deemed to be a move by KTF to avoid losses on its investment. KTF and Japanese partner operator NTT DoCoMo (a stakeholder in KTF) bought a 33 percent stake in U Mobile in December 2007 for US$200 million with the stake divided equally between the two firms. 

Since launch in 2007, U Mobile - a specialist 3G operator - has struggled to compete with its larger competitors in Malaysia, reportedly attracting less than 200,000 subscribers by the end of last year. According to Wireless Intelligence data, the market is led by Maxis, which had 9.7 million mobile connections by year-end, followed by Celcom (8.7 million) and DiGi (7.1 million).

Umobile will going to bankrupt lol..