With no bidders, South Korea suspends Woori sale
SEOUL (Reuters) - South Korea decided to suspend the sale of its 6 trillion won ($5.2 billion) controlling stake in Woori Finance Holdings (053000.KS) after failing to evoke interest from potential buyers, a Financial Services Commission official said on Thursday.
The Public Fund Oversight Committee, an independent decision-making body overseeing government auctions, decided to halt its latest attempt to sell Woori after no bidders emerged in an initial bidding last week.
This was the government's third unsuccessful attempt to sell South Korea's largest bank holding company by assets.
(Reporting By Joyce Lee; Editing by Muralikumar Anantharaman)
- Tweet this
- Share this
- Digg this
- UPDATE 6-Islamic State issues video of beheading of U.S. hostage
- Apple says its systems not to blame for celebrity photo breach
- UPDATE 3-Apple says its systems not to blame for celebrity photo breach
- Ukraine steelmen hold their ground as frontline marches towards port
- UPDATE 1-Girl who fatally shot Arizona gun instructor said weapon was too powerful