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| Share Price: 726.00 | Bid: 727.50 | Ask: 727.80 | Change: 0.00 (0.00%) |  | ||||||
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KDB says drops talks to buy HSBC's S.Korean retail banking business
Tue, 31st Jul 2012 06:48
SEOUL, July 31 (Reuters) - Korea Development Bank (KDB) said on Tuesday it has dropped talks t
KDB said in a statement negotiations were discontinued as KDB and HSBC failed to reach an agreement on employment conditions.
A KDB official told Reuters the chief disagreement lay in how to reconcile the different personnel structure of the respective operations.
In April, Europe's biggest bank said it was in talks over the possible sale of its Korean retail banking operation after it embarked upon a widespread asset-sale programme over the last year.
(Reporting By Joyce Lee; Editing by Muralikumar Anantharaman) Keywords: KDB HSBC/
(jungyoon.lee@thomsonreuters.com)(+82 2 3704 5609)(Reuters Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
SEOUL, July 31 (Reuters) - Korea Development Bank (KDB) said on Tuesday it has dropped talks t
o acquire HSBC's South Korean retail banking operations.
KDB said in a statement negotiations were discontinued as KDB and HSBC failed to reach an agreement on employment conditions.
A KDB official told Reuters the chief disagreement lay in how to reconcile the different personnel structure of the respective operations.
In April, Europe's biggest bank said it was in talks over the possible sale of its Korean retail banking operation after it embarked upon a widespread asset-sale programme over the last year.
(Reporting By Joyce Lee; Editing by Muralikumar Anantharaman) Keywords: KDB HSBC/
(jungyoon.lee@thomsonreuters.com)(+82 2 3704 5609)(Reuters Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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