SEOUL Jan 5 Fung Retailing Ltd, a wholly owned
unit of the privately held Fung Group, and other partners have
acquired a 70 percent stake in South Korean children's apparel
maker Suhyang Group, the company said in a statement.
The holding company of the Fung Group is privately held Fung
Holdings (1937) Ltd, which is also a substantial shareholder of
Hong Kong's Li & Fung Ltd.
On Thursday, South Korea's Maeil Business Newspaper, citing
unidentified investment banking sources, reported that Li & Fung
had agreed to acquire a majority stake in Suhyang Networks for
roughly 200 billion yuan ($188 million).
($1 = 1063.5000 Korean won)
(Reporting by Joyce Lee; Editing by Paul Tait)