The stake sale in Daewoo International may fall through because South Korean regulations do not allow single bidder auctions for state-owned assets, according to this article in Korea’s Money Today newspaper.
The unsourced report noted that only Posco is expected to bid for a stake in the listed South Korean wholesaler.
As reported, state-run Korea Asset Management announced it would sell 50% plus one share in Daewoo International, and expects to receive proposals by 24 February.
See previous post Daewoo International stake to go on sale for more information.
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