February 1, 2010 / 10:15 AM / 10 years ago

KDB confirms pullout of Thailand Siam City bidding

SEOUL, Feb 1 (Reuters) - Korea Development Bank (KDB) on Monday confirmed it was dropping out of final bidding for a stake in Thailand’s Siam City Bank SCIB.BK.

“We decided to drop our bidding,” a KDB spokesman said, after it issued a statement about the decision.

HSBC (HSBA.L) (0005.HK), KDB and Thailand’s Thanachart Bank are vying for a 47.6 percent stake in the seventh-largest lender in Thailand, which is put up for sale by a unit of the Thai central bank. (Reporting by Kim Yeon-hee; Editing by Jacqueline Wong)

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