Hana knows its got Seoul

With Lone Star eliminated, Hana Bank is the winning bidder for Seoul Bank.

The Korean government's decision to sell Seoul Bank to Hana Bank rather than the foreign investment fund, Lone Star signals a change of direction.

On two previous occasions banks had been sold to foreign investment firms, the lucky buyers being Newbridge Capital and Carlyle meanwhile the government watched Korea's economy boom and saw that the domestic bank merger between Kookmin and HCB had proven a phenomenal success.

So few ought to be surprised that when faced this time round...

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