South Korean container line also says it will not resurrect aborted IPO

South Korean container line SM Line is again downplaying a potential takeover move for massive compatriot shipowner HMM.

SM Line said it had increased its stake in the Seoul-listed container ship and VLCC company to 5.52%, from an initial 0.49% in January.

The chunk is worth $525m and ranks SM third behind state-owned financial institutions Korea Development Bank (KDB) on 20.69%

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