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KB Financial Group chairman Euh Yoon-dae said on Wednesday local lenders will be given a chance to take over a foreign bank.
Euh said more European banks are likely to be on the M&A market and it’s a good opportunity for Korean banks. “I believe Korea Development Bank should take over one of the global banks,” he said without elaborating on whether KB would pursue such a deal.
As for the takeover of a life insurance firm, Euh said KB is not interested in a stake in Kyobo Life Insurance since the block is not big enough for securing management control.
By Yang Sung-jin (insight@heraldcorp.com)
Euh said more European banks are likely to be on the M&A market and it’s a good opportunity for Korean banks. “I believe Korea Development Bank should take over one of the global banks,” he said without elaborating on whether KB would pursue such a deal.
As for the takeover of a life insurance firm, Euh said KB is not interested in a stake in Kyobo Life Insurance since the block is not big enough for securing management control.
By Yang Sung-jin (insight@heraldcorp.com)
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Articles by Korea Herald
