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Price speculation warms up on KEB

Reuters reported yesterday on the parameters of the price negotiations between ANZ and the two vendors of a 57 per cent stake in Korea Exchange Bank.According to Reuters, Lone Star - the US private equity fund that is selling a controlling 51 per cent stake - is looking for more than US$5 billion for its stake alone. Korean Export and Import Bank is also selling its six per cent stake.ANZ put forward an indicative price of  around US$4.5 billion to US$4.6 billion for the entire 57 per cent stake on offer, Reuters reported.The news wires cited "two sources" for the ANZ offer and "some bankers" for the Lone Star sales pitch.

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