Hyosung up on market talk, says no change on Hynix - News

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Hyosung up on market talk, says no change on Hynix

By: AFX | 08 Nov 2009 | 09:29 PM ET

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SEOUL, Nov 9 (Reuters) - Shares in South Korea's Hyosung Corp rose more than 4 percent mid-morning on Monday amid market talk that the company may drop its bid to buy a stake in Hynix Semiconductor Inc. Hyosung is the sole contender to have expressed interest in a controlling stake in Hynix, put up for sale by creditors-turned-shareholders. It is facing a Nov. 16 deadline to either submit a proposal for the purchase or withdraw. Responding to the rumour, a Hyosung spokesman said there had been no change in the company's stance that it would make an announcement by the deadline. Its shares were up 4.11 percent at 0209 GMT. (Reporting by Rhee So-eui and Seo Eun-kyung; Editing by Chris Lewis) ((soeui.rhee@thomsonreuters.com; +82 2 3704 5650; Reuters Messaging: soeui.rhee.reuters.com@reuters.net)) Keywords: HYOSUNG HYNIX/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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