S.Korea's KB Fin to decide on ING unit buy at Dec 5 board meet-report

SEOUL Wed Nov 28, 2012 4:22am EST

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SEOUL Nov 28 (Reuters) - KB Financial Group is set to decide on the purchase of ING Groep NV's South Korean insurance unit at a board meeting to be held on December 5, South Korean online news media Edaily reported on Wednesday.

KB Financial is expected to discuss acquiring the unit in a range of 2.42-2.43 trillion won ($2.23-$2.24 billion), it reported, citing an unnamed high-ranking official in the financial industry.

KB Financial is holding a board meeting on the date, a source with direct knowledge of the matter told Reuters, who could not confirm whether the ING purchase would be decided on the date. ($1 = 1084.1000 Korean won) (Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)

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