Taiwan finance minister asks Mega, First to study merger plans
TAIPEI, March 5
TAIPEI, March 5 (Reuters) - Taiwan's finance ministry said on Wednesday it has asked Mega Financial Holdings and First Financial Holdings to evaluate the possibility of merging with other state-run rivals.
Finance Minister Chang Sheng-ford told lawmakers he expects an initial outcome in the next two to four months.
The Taiwan government is encouraging a consolidation among state-run banks, which together own about 50 percent of shares in the over-crowded banking market. (Reporting by Jeanny Kao; Writing by Michael Gold; Editing by Paul Tait)