Most Popular
-
1
Seoul vows action over Naver's Line, Yahoo dispute
-
2
[Grace Kao] American racism against Stray Kids
![[Grace Kao] American racism against Stray Kids](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/13/20240513050827_0.jpg&u=)
-
3
Key S. Korean, USFK special operations officials to hold rare meeting amid NK threats
-
4
NewJeans' members' parents complained to Hybe, email shows
-
5
Controversy brews over shakeup of prosecutors amid probe of first lady
![[Grace Kao] American racism against Stray Kids](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/13/20240513050827_0.jpg&u=)
-
6
Jennie, Stray Kids's Met Gala attendance puts them on 'digital guillotine' blacklist
-
7
OpenAI gives ChatGPT new powers to see, hear
-
8
[KH Explains] Naver’s Line dilemma: Lose global footing for cash?
![[KH Explains] Naver’s Line dilemma: Lose global footing for cash?](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/14/20240514050624_0.jpg&u=)
-
9
[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure
![[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/14/20240514050559_0.jpg&u=20240514184059)
-
10
S. Korea to inject $70m into AI-powered public education
![[KH Explains] Naver’s Line dilemma: Lose global footing for cash?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/14/20240514050624_0.jpg&u=)
![[Herald Interview] Carbon breakthrough in Korea: Making diamonds at atmospheric pressure](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/05/14/20240514050559_0.jpg&u=20240514184059)
Korea’s move to sell IBK stake falls apart: sources
By Korea HeraldPublished : July 18, 2014 - 20:47
South Korea’s planned sale of part of its stakes in the Industrial Bank of Korea fell apart recently, sources said Friday.
The government planned to sell about 23 million shares of its stake in IBK through a block deal on Thursday in after-hours trading, according to the sources. The deal was estimated at around 300 billion won ($290.3 million).
The government confirmed that the deal fell apart but did not elaborate on the reasons. A finance ministry official told Yonhap that it was natural that a deal fails when conditions are not met.
The official said negotiations were still ongoing to rearrange the sale.
Market sources speculated that a legal issue may be the major reason, saying allegations that the IBK had violated sanctions on Iran prompted a U.S. bank to withdraw from the selling process. The ministry denied the speculation. (Yonhap)
The government planned to sell about 23 million shares of its stake in IBK through a block deal on Thursday in after-hours trading, according to the sources. The deal was estimated at around 300 billion won ($290.3 million).
The government confirmed that the deal fell apart but did not elaborate on the reasons. A finance ministry official told Yonhap that it was natural that a deal fails when conditions are not met.
The official said negotiations were still ongoing to rearrange the sale.
Market sources speculated that a legal issue may be the major reason, saying allegations that the IBK had violated sanctions on Iran prompted a U.S. bank to withdraw from the selling process. The ministry denied the speculation. (Yonhap)
-
Articles by Korea Herald
