KB Financial says bid for ING's South Korea insurance business
SEOUL (Reuters) - South Korean bank holding firm KB Financial Group (105560.KS) has submitted a bid for ING Groep NV's (ING.AS) South Korean life insurance business, KB Chairman and Chief Executive Officer Euh Yoon-dae said on Tuesday.
ING sent out a dozen information memorandums for its insurance business, worth about $6.5 billion to $7 billion, which spans Southeast Asia and includes operations in Japan and South Korea.
Euh, speaking to Reuters on the sidelines of a conference, did not comment on specifics such as how much ING's South Korean business might cost and whether the firm may join a consortium.
He said the firm was waiting for details on how the next round of bids would proceed.
(Reporting by Se Young Lee; Editing by Jacqueline Wong)
NEW YORK - The U.S. S&P500 stock index posted its worst daily fall since April and its first monthly drop since January on Thursday, as economic data sparked concern the Federal Reserve could raise interest rates sooner than some have expected.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.