Asiana Airlines board to meet again over merger with Korean Air (updated)

ASIANA AIRLINES

31/10/2023 01:08

(Recasts with company statement, background)
    By Ju-min Park and Heekyong Yang
       SEOUL, Oct 31 (Reuters) - Asiana Airlines  020560.KS 
said on Tuesday it would reconvene a board meeting in early
November to decide whether it should accept prospective buyer
Korean Air's proposal that includes the sale of its cargo
operations over EU antitrust concerns.
    Asiana's board failed to decide in a meeting on  Monday
whether to accept Korean Air Lines'  003490.KS 's offer.
        "A board meeting that is now in recess will resume in
early November and make a final decision," Asiana said in a
statement. 
  
    South Korea's biggest carrier Korean Air planned to submit
corrective action plans to the European Commission (EC) by the
end of October to gain European Union antitrust approval over a
proposed takeover of its smaller rival Asiana, a source familiar
with the matter told Reuters earlier this month, though that
timing could slip.  urn:newsml:reuters.com:*:nL1N3BN103
    Yonhap said that since Asiana's board had dragged out its
decision, Korean Air's submission to the EC would be delayed.

 (Reporting by Ju-min Park; Editing by Tom Hogue, Ed Davies)
 ((ju-min.park@thomsonreuters.com; Reuters Messaging:
ju-min.park.thomsonreuters.com@reuters.net))