SK Telecom in final talks to buy Hana Card stake

SEOUL, SOUTH KOREA: South Korea's largest mobile carrier SK Telecom said on Wednesday its talks to buy a major stake in a credit card unit from Hana Financial Group were in an advanced stage.

"Our talks (over Hana Card) are in final stage. No final conclusion has been made yet," a spokesman at SK Telecom said.

Yonhap News cited financial industry sources as saying SK Telecom agreed to take over a 49 percent stake in the credit card business from Hana for around 400 billion won.

It reported that Hana and SK Telecom planned to hold a board meeting to approve the deal on Dec. 11 and Dec. 14 respectively.