Korean Air block pulled

Hanjin Transportation's plan to offload its entire stake in Korean Air stalls amid market mayhem.

Hanjin Transportation, the Korean transportation and logistics company, which planned to raise up to $210 million by divesting its stake in Korean Air Lines, pulled the deal on Thursday amid market turmoil

The timing for the clean-up trade was clearly not ideal China’s stock markets continue to collapse, with roughly 1,500 companies filing for trading suspension on the Shanghai and Shenzhen exchanges as Greece edged closer to an exit from the Eurozone

Korean Air’s own negative market performance — it fell 3 7% on July 8 and is down 6 8% year-to-date — did not bode well for the block trade

Korea meanwhile continues to be plagued by a recent outbreak of the deadly Middle...

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