The revelation from the UK financial media outlet is apparently based on sources ‘familiar’ with the matter and comes just hours after final bids were submitted.
Despite early interest from a number of overseas firms, including Standard Chartered, in the end only three domestic players tendered official final bids for the $5 billion valued LG Card.
South Korean financial services companies Shinhan Finanical, Hana Financial and the National Agricultural Cooperative Federation have submitted formal bids to buy a majority share in the card issuer, according to lead creditor Korea Development Bank (KDB). Fourteen creditors holding 82% of the credit card issuer, which has ten million customers, are offering a stake of between 51% and 72%.
