S.Korea's Asiana IDT, Air Busan jump on prospects of sale
21/11/2019 01:58
** Asiana IDT 267850.KS and Air Busan 298690.KS -
affiliates of South Korea's Asiana Airlines 020560.KS - jump
on expectations that the carrier's potential owner may sell both
subsidiaries
** A consortium led by South Korean construction firm
Hyundai Development 267850.KS and brokerage Mirae Asset Daewoo
006800.KS was picked as the preferred bidder for a controlling
stake in Asiana Airlines last week urn:newsml:reuters.com:*:nL4N27S10H
** However, the group may choose to sell Asiana's
subsidiaries because of government ownership regulations, says
Ha Joon-young, an analyst at HI Investment & Securities
** Chung Mong-gyu, chairman of Hyundai Development said last
week that he will consider various options regarding the two
companies
** Shares of Asiana IDT, an IT service unit, surge more than
15%, set to end firmer for a second consecutive session
** Air Busan, a budget airline, adds more than 5%
** The broader KOSPI market .KS11 was trading 1.5% lower
((Hayoung.Choi@thomsonreuters.com; +82 2 6936 1468))