HSBC wants to buy majority at Korean bank KEB

Largest European Finanzinstitut HSBC wants for 4.8 billion dollar the majority to South Korean Korea Exchange bank (KEB) to take over.

As the British money house communicated on Monday, it is already in discussions with the US-Investmentfirma Lone star, which holds 51 per cent by KEB. The assumption of the fifth-largest bank of South Korea would make possible HSBC, which contested operational readiness level in that hard, to expand but lucrative South Korean market. The bank must count however on counter offers, since also the British Hana Financial Group and the Kookmin bank interest in KEB announced.

The Kookmin bank had already tried in the past year to take over Lone of star portions of KEB. The business in the value of 7.3 billion dollar had burst however because of law cases with the authorities. Plans of foreign banks to enter into the South Korean market are repeated encountered refusal at the government in Seoul. Banks such as Citigroup and standard Charteredhaben it nevertheless production to develop their position in the fourth largest economics of Asia by the purchase of there rivals