A consortium including Korea’s Hyundai Development Co. has been selected as the preferred bidder to take control of Asiana Airlines. In a statement to the Korean stock market, Hyundai said the consortium will enter negotiations for a deal to purchase the 31.05% stake in Asiana currently held by Kumho Industrial. The parties did not disclose the purchase price in the filings, but local media report the consortium’s bid is worth about $2.2 billion. Kumho is currently the largest ...

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