SEOUL, July 18 South Korea called off the
planned sale of a stake in Industrial Bank of Korea (IBK)
, a finance ministry official told Reuters on Friday,
without giving details.
The government had put up for sale a part of its 60 percent
stake in the bank at a discount of about 5 percent from its
Thursday closing price, a source had told Reuters. Such a deal
had been expected to raise up to 300 billion won ($290 million),
according to a media report.
Asian shares sagged in early trading following news that a
Malaysian airline jet was downed at the Ukraine-Russia border on
($1 = 1032.8000 Korean Won)
(Reporting by Christine Kim and Joyce Lee; Editing by Ryan Woo)