Hyundai Merchant Marine (HMM), South Korea's second-largest carrier, saw its shares plummet after rumors emerged that the shipping group could be headed for a merger with the country's biggest container carrier, Hanjin Shipping.
HMM's shares dropped 14 percent on the Seoul Stock Exchange to 5,130 Korean won (around USD 4.4) per share, which is the biggest decline for the group since June 2013, reports Bloomberg News.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.