Asiana Airlines board to reconvene Thursday to vote on cargo biz sell-off

Asiana Airlines, South Korea's second-largest air carrier, said Tuesday its board will reconvene later this week to vote on whether to sell its cargo business, as Korean Air Co. seeks to win antitrust approval from European Union regulators for the takeover of its smaller rival. The meeting will be held Thursday, Asiana said in a regulatory filing, without specifying the time or place. The gathering comes three days after the board failed to reach a conclusion amid disagreements over the sell-off, the validity of votes to be cast by several outside board members and other issues. If the board votes to sell the cargo business, it would give Korean Air, the larger of the two full-service carriers, a better chance at winning a nod from the EC, the EU's executive body, for its takeover of the smaller rival. EU antitrust regulators have raised concerns that Korean Air's acquisition of Asiana may restrict competition in the markets for passenger and cargo air transport services between the EU and South Korea. A rejection, on the contrary, could potentially dampen the prospects of the merger deal, which has been pursued for the past three years. <br/>