All Hyundai Merchant Marine wants for Christmas is about $280m to present its parent with a large slice of a sister manufacturing firm.
Hyundai Engineering & Construction has on the same day, however, issued a "thanks, but no thanks" to Hyundai Group over its share purchase proposal.
The South Korean diversified shipowner HMM is planning to sell of shares in a French subsidiary in order for the group to fund a controlling stake in Hyundai Engineering.
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