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HSBC says can't wait forever on KEB acquisition

Sun May 25, 2008 9:21pm EDT

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SEOUL, May 26 (Reuters) - HSBC (HSBA.L) (0005.HK) said on Monday that it was committed to an agreement to buy a majority stake in Korea Exchange Bank (KEB) (004940.KS), but could not wait forever.

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"We are hopeful that the government will take appropriate action," Simon Cooper, who leads HSBC's South Korean operations, was quoted as saying in a note e-mailed to Reuters by the British bank.

"Our rationale for this acquisition has not changed. KEB is a good fit with HSBC."

(Reporting by Kim Yeon-hee; Editing by Jonathan Hopfner)

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