Korea Hot Stocks - Hite jumps on report Lotte's OB bid rejected
SEOUL, March 12 (Reuters) - Stocks on the move on Thursday include:
As of 0215 GMT, the main KOSPI was down 0.49 percent at 1,121.81 points.
The index opened 0.08 percent lower at 1,126.60 points.
**HITE BREWERY JUMPS ON TALK LOTTE DROPPED IN OB BID**
Shares of Hite Brewery (103150.KS), South Korea's top brewer, rose 5.95 percent after a report by Bloomberg News that Lotte Group's purchase offer for Oriental Brewery was rejected due to its low offer price.
Lotte and Oriental Brewery declined to comment, when contacted by Reuters.
"This should be positive news for Hite Brewery as potential threats from Lotte Group's acquisition could significantly drop and competition with OB would remain moderate after the acquisition," Morgan Stanley said in a note on Thursday.
Oriental Brewery is part of Anheuser-Busch InBev INTB.BR.
0220 GMT (Reporting by Jungyoun Park; Editing by Muralikumar Anantharaman)
