Glitz-and-glamour MVNO Helio LLC will receive up to $270 million in fresh capital from parent company SK Telecom, it was reported today. But the Korean giant will fly solo; Helios other parent, EarthLink Inc., which previously reported Helio as a drag on its finances, has no plans to further fund its MVNO offspring, it said. It will however retain an ownership stake.

The two companies said no further details would be divulged until the agreements were finalized.

EarthLink Inc. www.earthlink.net
Helio LLC www.helio.com