News / South Korean state tightens control of HMM amid privatisation questions

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Korea Development Bank (KDB) and Korea Ocean Business Corp (KOBC) on Tuesday increased their stake in South Korea’s flagship box line, HMM, to 67.05%, after both state-controlled financial institutions exchanged KRW660bn ($478.25m) of convertible bonds for more shares.

The conversion increases their holding from 418.79m shares ...

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