Asiana Airlines shares rally ahead of stake sale
12/11/2019 02:38
** Shares of Asiana Airlines 020560.KS rise as much as 19%
to their highest intraday levels in nearly six months
** Budget affiliate unit Air Busan 298690.KS rallies 26%
and Asiana IDT 267850.KS gains 12%
** Top shareholder of Asian Airlines is set to pick a
preferred bidder for a stake sale on Tuesday, media reports say
** A consortium of builder Hyundai Development Company and
brokerage Mirae Asset Daewoo 006800.KS offers to buy the
Asiana stake for nearly 2.5 trillion won ($2.15 billion),
including new shares to be issued by the debt-ridden airline,
Korea Economic Daily reports last week.
** The benchmark KOSPI market .KS11 is trading up 0.3%
((hyunjoo.jin@thomsonreuters.com; 82-2-3704-5685))