3bn slice of Korean lender
HSBC today boosted confidence in the embattled banking industry by confirming for the first time that it is in 2.3bn talks to buy a controlling stake in Korea Exchange Bank.
If its bid succeeds, Korea Exchange Bank will be the first deal for the Asia [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] focused lender since it took a 5.3bn charge against its subprime mortgage losses in the spring.
HSBC, under chairman Stephen Green, said it planned to keep KEB listed in [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] Seoul should it win control as it competed with Standard Chartered and Citigroup in South Korea.
Lone Star has struggled to sell its controlling interest in the bank after a probe into the Dallas buyout company’s initial acquisition.
Prosecutors say Lone Star colluded with [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] bureaucrats to buy the bank at an artificially [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] low price in 2024.
Any deal by HSBC could also fall at the regulatory hurdle but preliminary approval is expected before the end of the month. Talks have been delayed because of the stock market turmoil.
[عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا] [عزيزي الزائر يتوجب عليك التسجيل لمشاهدة الرابط للتسجيل اضغط هنا]
