HONG KONG, Sept 28 (Reuters) - Singapore's United OverseasBank Ltd and Australia & New Zealand Banking Group Ltd are considering a bid for Hong Kong's Wing Hang BankLtd, according to people familiar with the matter.
Wing Hang, with a market capitalisation of $4.7billion, announced earlier this month that its controllingshareholders had received preliminary offers from independentthird parties to purchase their shares in the bank. It did notname the bidders.
People familiar with the matter told Reuters on Saturdaythat ANZ and UOB were among the companies considering a bid forthe Hong Kong bank. The Wall Street Journal also cited peoplefamiliar with the matter as saying UOB and ANZ had showninterest.
Wing Hang Bank is the second family-run Hong Kong lender toget a takeover offer since August. Chong Hing Bank Ltd said that it had received offers from multiple parties, withoutnaming the suitors.
A UOB spokesman on Saturday said the bank does not commenton market speculation. An ANZ spokesman said: "From time to timewe look at opportunities as part of our super regional strategyhowever we don't comment on market speculation."
Wing Hang Bank could not be reached for comment.
China's economic clout and the growth of the offshore yuanfixed income market has made Hong Kong's mid-sized banksincreasingly attractive to foreign lenders seeking a gateway tothe mainland market and seeking growth outside home markets.
New capital rules and competition from bigger rivals likeHSBC Plc and Standard Chartered Bank Plc havealso given controlling shareholders of Hong Kong banks moreincentive not to hold out for more lofty premiums that othercity lenders commanded before the global financial crisis.
Hong Kong's Fung family, along with BNY InternationalFinancing Corp, control about 45 percent of the Wing Hang Bank,whose stock has soared since takeover talk started.
The Wall Street Journal reported earlier this month that ANZ dropped its over $900 million bid for the main Australianbusinesses of British lender Lloyds Banking Group.
ANZ was among four parties shortlisted to buy Lloyds's assetfinance and commercial lending units but withdrew on concernsabout its ability to integrate the units with its Esandafinancing arm, the Journal reported, citing people familiar withthe matter.
ANZ, Australia's third largest bank by value, has beenseeking to expand its business across Asia for several years, avision held by current CEO Mike Smith, a former top executive atHSBC.
Banks across Asia, from Japan to Singapore, are alsoaggressively expanding beyond their borders, looking for highergrowth markets.
Lloyds (LLOY)