Videocon Telecommunications has planned to sell 26% of its stake to Korea's Telecom Company, Sun Kyung (SK). It has also started discussions with S K Telecom. This is Videocon’s latest attempt to bring a foreign partner for its mobile phone service, which is totally a new participant in the market’s telecom activity.

The company is looking forward to get Rs 3,600 crore from this deal. Earlier it was estimated that the company can get over Rs 13,000. This has been informed by one of its executive.

But, the analysts have said that the desired profit margin is going to very high. Videocon Telecommunications is also in connection with Mukesh Ambani’s Reliance Industries for a purchase.

However, the chairman and MD of Videocon Group, VN Dhoot, has refused to give any comments on the existing deal with the Korean telecom company, SK Telecom. But, he has said that many communication firms from all across the globe have proposed the company for a strategic partnership.

The SK Telecom has already provided its mobile phone services to Vietnam, US and China. It had declared about its new business investments in Malaysia and Indonesia last month only.