South Korean Hana Financial confirmed that it could internally raise a total cash reserve of KRW 2tn (USD 1.65bn) which can be used for potential M&A, reported E-Today.
The report, which cited CEO Kim Jong-ryul who said during a press conference yesterday that Hana is expecting to raise KRW 2tn in preparation for potential M&As.
Kim said that it is unviable to mention about whether it will go for acquisition of Woori Finance as the privatization plan of the listed South Korean financial company is yet to be made public.
Hana Financial was earlier reported to be a candidate to merge with Woori Finance.
Source: E-Today (translated)
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