SK Telecom Co.,Ltd (KOSE:A017670) is in talks with Hyundai Department Store Group to acquire a 66.2% stake in pay-per-view TV operator Hyundai HCN Co.,Ltd. (KOSE:A126560), an official at a top-tier local consulting firm said. "SK Telecom approached local consulting firms and banks for a valuation of the Hyundai group-owned PPV TV operator Hyundai HCN. SK is in talks with the relevant authorities to acquire a majority stake of Hyundai HCN for an expanded presence in the growing local PPV TV market," the official with direct knowledge of the matter said.

Earlier, the SK Group telecommunications affiliate received approval from the country's top telecom regulator for its purchase of T-broad. At the time of the approval, SK Broadband, SK Telecom's fixed-line subsidiary, said the acquisition would allow both to "better and quickly respond to the changes in the local PPV TV market and further strengthen their media competitiveness." The 66.2% stake is divided amongst Hyundai HomeShopping, which has 38.34%, followed by Hyundai Shopping, Hyundai Department Store and Hyundai Green Food with 11.05%, 11.03% and 5.79%, respectively. Neither SK Telecom nor Hyundai HCN has confirmed or denied the reported figures.