SK Telecom, yesterday cleared rumors when it announced that it has no plans to buy controlling stakes in any US company.

Earlier, CNBC reported that the Korean wireless company was planning to purchase Sprint. But later reports indicated that the two companies are discussing a strategic partnership in developing new handsets and services. Last year, Sprint rejected a USD5 billion investment offer from SK Telecom.

The potential deal would offer business opportunities for SK Telcom in the US market while Sprint will benefit in terms of mobile technology.

Sprint is the third largest wireless operator in the US. It has 53 million subscribers.