SK Telecom becomes the sole bidder for a 20% stake in Hynix Semiconductor as STX Group drops its plan to stake in the chip manufacturer, according to a September 19, 2011 report by Reuters. The 20% stake includes 101.85 million new shares and 44.25 million existing shares held by Hynix shareholders. It is reported that STX scraps plan owing to concerns over the economic uncertainty worldwide and the amount of investments needed to maintain Hynix's competitiveness. SK Telecom said that it hopes Hynix will proceed with the sale.