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Shinhan Financial Group pushing for takeover of Chohung Bank.
(From The Korea Herald)
By Park Sang-soo Staff reporter Shinhan Financial Group, Korea's third-largest financial group, is pushing for a takeover of state-owned Chohung Bank, banking sources and government officials said yesterday.
Watchers said the government appears willing to hand over control of Chohung Bank if Shinhan offers satisfactory conditions.
"We believe Shinhan is promoting the acquisition of Chohung Bank following the collapse of its merger negotiations with KorAm Bank," an analyst said.
Choe Young-hui, vice president of Shinhan Financial Group, yesterday neither confirmed nor denied news reports that the financial group is …
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