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Korea M&A Corporation
Daum Communications jumps on M&A rumours 본문
SEOUL, June 11 (Reuters) - Stocks on the move on Thursday include:
As of 0301, the main KOSPI was up 0.9 percent at 1,427.67 points.
The index opened 0.21 percent lower at 1,411.92 points.
**DAUM COMM UP ON M&A RUMOURS**
Shares in Daum Communications jumped on rumours that NCSoft Corp would buy the Internet portal operator, though spokespeople from both companies denied the talk. The Korea Exchange on Thursday asked NCSoft to clarify the rumours by 6:00 pm local time.
'Daum has long been the subject of merger rumours and this looks like just another round with a different buyer candidate,' said Daewoo Securities analyst Kim Chang-kwon.
Daum Communication shares rose 4.44 percent to 38,850 won as of 0301 GMT. The junior Kosdaq was up 0.04 percent at 520.57 points.