20th Aug 2007 08:32
HSBC Holdings PLC20 August 2007 HSBC IN TALKS TO ACQUIRE STAKE IN KOREA EXCHANGE BANK HSBC Holdings plc confirms that its subsidiary, The Hongkong and ShanghaiBanking Corporation Limited, is in discussions about the possible acquisition ofa majority stake in Korea Exchange Bank, Korea's sixth largest bank by totalassets, from Lone Star. The discussions are ongoing and, if agreement is reached, the transaction wouldbe conditional, inter alia, on obtaining the necessary regulatory approvals inKorea and elsewhere. A further announcement will be made as and when appropriate. Note to editors: HSBC Holdings plcHSBC Holdings plc serves over 125 million customers worldwide through around10,000 offices in 83 countries and territories in Europe, the Asia-Pacificregion, the Americas, the Middle East and Africa. With assets of some US$2,150billion at 30 June 2007, HSBC is one of the world's largest banking andfinancial services organisations. HSBC is marketed worldwide as 'the world'slocal bank'. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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