HSBC And Lone Star Saga Continues With KEB

HSBC Holdings denied on August 7 a South Korean media report which stated that HSBC has agreed with Lone Star to set a new deadline for its stake purchase in South Korean bank KEB. HSBC's plan to purchase private equity firm's Lone Star's US$6.2bn stake in KEB has been delayed by legal charges against KEB and Lone Star for rigging share prices in connection with Lone Star's 2003 acquisition of a 51% stake in the bank. The deal, which has been in the works since September 2007, looked as though it would fall apart in the weeks approaching the agreement's

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