Korea’s Edaily Newspaper reported Sunday that state-run Korea Development Bank (KDB) will unlikely make an acquisition plan for Korea Exchange Bank (KEB).
Citing an unspecified government official, the report states that the Korean government does not see it as possible for KDB to acquire the listed lender, as it could make KDB’s planned privatization more difficult.
Also adding, that spending public money to buy the KEB stake from Lone Star, may result in public criticism.
It was earlier reported that the Texas-based Lone Star Fund planned to offload a 51.02% stake in KEB and South Korean banks like KDB and KB Financial could target the stake.
The full article can be found here (Korean). For some background on the sale, see ‘KEB Sale Jumps another hurdle’.
(Source: Edaily)
No related posts.
