Woori Investment & Securities (I&S) is unlikely to be sold separately in the privatization process of Woori Finance, reported Maeil Business.
This is in response to last week’s Edaily report that Woori I&S may be sold separately.
Woori I&S is the listed South Korean brokerage unit of Woori Finance, the listed South Korean financial holding company in which the South Korean government is seeking to offload its 57% stake. Woori Finance has a 34.96% stake in Woori I&S.
The report cited the president at Woori I&S, Hwang Sung-ho, as saying that it would be better for Woori Finance to retain the subsidiary, considering the value of having a strong market player in a non-banking financial area.
Meanwhile, an announcement regarding the privatization of Woori Finance could be made next week, according to a separate report in the Korea Economic Daily.
The unsourced report said that the announcement may not contain the specific method of the sale, and that the government would open to all options suggested by potential buyers.
See here for more stories on the Woori privatization.
Sources: Maeil Business (translated), Korea Economic Daily (translated)
No related posts.
