South Korean liner operator SM Line (also known as SM Merchant Marine) has purchased more shares in its compatriot rival HMM, increasing its stake to 0.99%.
On 28 April, SM Line bought 2,629,630 HMM shares for US$56.14 million, bringing its total holdings in HMM to 4,886,578 shares.
SM Line has, however, continued to downplay any speculation that it could be a potential candidate to acquire HMM.
A spokesperson for SM Line told Container News, “It is for an investment purpose as the container...
https://container-news.com/sm-line-ups-stake-in-hmm-to-0-99/