SEOUL Feb 25 South Korea's main KOSPI share
index was down 0.13 percent at 2,016.17 points as of
Stocks on the move on Monday include:
**STX PAN OCEAN RALLIES**
STX Pan Ocean Co Ltd jumped as much as 9.2
percent on Monday after a media report said steelmaker POSCO
was interested in buying a controlling stake worth
$333 million in the shipper.
POSCO denied the report. "The report is groundless, We have
not considered a bid for STX Pan Ocean," a spokeswoman for POSCO
MoneyToday citing an official in the M&A industry, said
POSCO had signed a non-disclosure agreement to explore the
purchase of the shipper,
SK Shipping Co Ltd had also signed a
non-disclosure agreement, but would not bid for a stake in STX
Pan Ocean after SK Group chairman Chey Tae-won was jailed on
embezzlement charges, the official was quoted as saying.
STX Group is seeking to sell the entire 35 percent stake
held by STX Group affiliates and executives, which has a market
value of 361.5 billion Korean won ($333.29 million)as of
Friday's closing price. The sale includes management rights.
($1 = 1084.6500 Korean won)
(Reporting By Hyunjoo Jin and Joyce Lee; Editing by Richard