ID :
20209
Fri, 09/19/2008 - 20:02
Auther :
Shortlink :
http://m.oananews.org//node/20209
The shortlink copeid
HSBC gives up buying KEB: report
SEOUL, Sept. 19 (Yonhap) -- HSBC Holdings Plc has terminated a deal to buy a 51.02 percent stake in Korea Exchange Bank (KEB) amid lingering legal disputes over the Korean lender, Bloomberg said Friday.
Last September, U.K.-based HSBC agreed to buy South Korea's No. 5 lender from U.S. buyout fund Lone Star Funds, but the deal has been deadlocked as the financial watchdog here is withholding its approval, citing legal disputes over Lone Star's 2003 purchase of KEB.
Last September, U.K.-based HSBC agreed to buy South Korea's No. 5 lender from U.S. buyout fund Lone Star Funds, but the deal has been deadlocked as the financial watchdog here is withholding its approval, citing legal disputes over Lone Star's 2003 purchase of KEB.
