Golar LNG, controlled by Norwegian shipping tycoon John Fredriksen, has bought 21% of Korea Line. But Golar has sought to calm fears that it intends a takeover by asserting that its purchase of more than 2M shares in the bulk shipping company is only "for investment". Nobody is buying this explanation, or at least nobody at Korea Line. A director of the South Korean company reasons that if Golar's purchases are only for investment, it should have sold the shares, whose prices doubled after Golar began chipping away at the stock. This would have fetched handsome profits. He also points out that hardly any indications point to the share price climb significantly again.
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