KEB low-ball bid reports false
Korean media reports suggesting that Australia & New Zealand Banking Group (ANZ) and Standard Chartered Bank submitted low bids for Lone Star Funds' 51% stake in Korea Exchange Bank (KEB) at $3.32 billion or less were false - at least according to ANZ statements.
Some reports put the offer prices as low as $2.5 billion despite earlier estimates of its true value as closer to $4 billion. ANZ specifically stated that it had not made a bid for the stake. The reports...
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