Woori Privatization Update: Hana still evaluating merger

Hana Financial, is still evaluating a proposed merger with Woori Finance, Money Today reported (Korean), citing Hana CEO Kim Jong-yeol.

The report cited Kim as telling a press conference that the company was yet to have a larger picture of the potential merger.

Woori, in which the South Korean government holds a 65.97% stake through the Korea Deposit Insurance Company, was earlier reported likely to merge with another financial firm, before the government divests its stake in it.

Hana Financial and KB Financial have been previously mentioned as potential merger candidates.

(Source: Money Today)

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