KAL the only bidder for stake in Czech Republic state airline

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KAL the only bidder for stake in Czech Republic state airline

Korean Air Lines was the sole bidder for a stake in Czech state airline Ceske Aerolinie. The country’s largest carrier offered to pay 2.64 million euros ($3.44 million) for a 44 percent stake in Ceske, the Czech Finance Ministry said yesterday. The bid was based on an earlier estimate by Ernst & Young that valued the airline at 148.5 million koruna ($7.6 million). Korean Air’s offer meets all the conditions and is binding, the ministry said. Bloomberg

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