ANZ Stock News, Korea Exchange Bank Acquisition?

ANZ ASXAustralia and New Zealand Banking Group (ANZ) is the nation’s third-largest bank by market capitalisation, is among the top 50 banks in the world, and is also widely considered among the blue chip stocks.

ANZ operates retail and business banking in Australia, New Zealand and throughout the South Pacific.

Recent news reports have suggested that ANZ’s attempt at acquiring Korea Exchange Bank has been thwarted by Lone Star Funds.

Lone Star, which owns 51% of Korea Exchange, has reportedly sold its stake to another bank, believed to be South Korean-based Hana Financial Group.

ANZ denied the rumours, instead stating that it is continuing to participate in the due diligence process.

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