The news gave a boost to shares of Kumho Asiana affiliates. Asiana Airlines rose 2.9 percent to 5,640 won ($4.87) and Kumho Industrial climbed 4 percent to 14,250 won, outperforming the broader Kospi‘s 0.8 percent gain as of 1 p.m.
Conglomerates, such as SK, CJ, Hanwha and Aekyung, have been mentioned as potential bidders for the country’s second-biggest full-service carrier after Korean Air, though they have denied the rumors.
Early this month, Korean Air Chairman Cho Won-tae said the company “is looking at the deal.”
The 33.5 percent stake in Asiana up for sale is held by Kumho Industrial, a construction unit of the group.
By Ram Garikipati and newswires (email@example.com)