News / SM Line expands HMM shareholding again, but denies takeover ambitions

SM Line has expanded its hold on HMM after buying more shares, leaving the market to wonder if the rival South Korean ocean-going liner operators will eventually merge.

Last Thursday, SM Line purchased another 3.77m of HMM’s shares for KRW100bn ($76.6m), taking the Samra Midas (SM) group’s stake to 6.29%.

Other SM companies, such as Korea Shipping Corporation, Korea Line Corporation (KLC) and STX Construction, as well as group chairman Woo Oh-hyun, acquired HMM shares in a massive stock purchase on 20 ...