SK Telecom Co. and Sprint Nextel Corp. are reportedly talking about creating a partnership to develop new handsets and services.
The two sides aren't talking about an actual merger, however, and Seoul-based SK Telecom would only make a minority investment in Sprint, according to a report in The Wall Street Journal.
Sprint would not discuss the report, and SK Telecom didn't respond to requests for comment.
In late 2007, Sprint turned down an offer of $5 billion from SK Telecom and Providence Equity Partners LLC.
Overland Park, Kan.-based Sprint has nearly 53 million customers, making it the third-largest U.S. carrier.
Last month, Virgin Mobile USA Inc. agreed to acquire Helio LLC, a joint venture of SK Telecom and Internet service provider EarthLink Inc. in a stock deal valued at $39 million. As part of the deal, SK Telecom and EarthLink will be limited partners.