SK Telecom offered to purchase 20% of Hynix Semiconductor, according to a November 11, 2011 report by Bloomberg. SK Telecom's bid was submitted on November 10, 2011 before the 5 p.m. deadline set by Hynix's major shareholders. It is reported that Hynix did not receive any other bid. Hynix shareholders obtained the stake in 2001 through a bailout led the Korean government, and it is their fourth attempt in two years to sell the stake.