South Korean liner operator SM Line has refuted market talk that it could try to acquire the Korea Development Bank’s stake in its larger compatriot rival HMM.
Speculation arose after Samra Midas (SM) group boss Woo Oh-hyun, who expressed ambitions of building up the shipping business ahead of SM Line’s planned initial public offering (IPO), decided against bidding for SsangYong Motor.
On 30 September, the Korea Exchange approved SM Line’s application for an IPO, further fueling market talk that...
https://container-news.com/sm-line-shoots-down-of-acquiring-hmm/