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SM Group, the parent company of SM Line, has decided not to submit a bid for the state's interest in HMM, South Korea's flagship container carrier. The 57.87% stake in HMM is estimated to cost between $3.8 billion and $7.6 billion, which may have led to SM Group's funding concerns. Other companies, including Hapag-Lloyd, Harim Group, LX Pantos, and Dongwon, have submitted bids. A buyer could be named in September.
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