March 6, 2013 / 2:46 AM / 5 years ago

Tong Yang Life says reviewing ING's S.Korean unit buy

SEOUL, March 6 (Reuters) - Tong Yang Life Insurance Co Ltd said in a regulatory filing on Wednesday it is reviewing whether to acquire ING Groep NV’s South Korean insurance unit.

ING officials had previously told South Korean regulators the company would inform regulators on their future plans for the unit within the first quarter of 2013, a source has said.

In December, KB Financial Group Inc decided against buying the unit after negotiating the prospective price down to roughly $2.1 billion. (Reporting by Joyce Lee; Editing by Paul Tait)

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