SEOUL Dec 5 KB Financial Group Inc's
board has postponed a decision on the purchase of
ING Groep NV's South Korean insurance unit to December
18, KB said in a statement on Wednesday.
KB's board was to have decided on the purchase at
Wednesday's board meeting, a deal that could be valued at more
than $2 billion, sources previously told Reuters.
The board discussed the acquisition of ING's South Korean
insurance unit after receiving reports from officials on
Wednesday but decided to resume discussions at the later date
due to the importance of the matter and extensive amount of
information, the company said.
KB declined to disclose any other details, citing the
confidential nature of the discussions.
(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)