December 1, 2017 / 8:27 AM / a year ago

South Korea's AJ Networks considers rental car company stake sale

SEOUL (Reuters) - South Korea’s AJ Networks Co (095570.KS) said on Friday it was considering the sale of its stake in rental car company AJ Rent A Car (068400.KS) and other options to beef up its competitiveness.

AJ Networks owns a 39.80 percent stake in AJ Rent A Car, according to Thomson Reuters Eikon data.

South Korea’s Maeil Broadcasting Network said on Friday Hyundai Motor (005380.KS) has early this week entered detailed talks with AJ Networks to buy the rental car firm, citing unidentified investment banking and company officials.

A Hyundai Motor spokeswoman said the company does not comment on market speculation.

Reporting by Hyunjoo Jin; Editing by Gopakumar Warrier

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