Taiwan regulator rejects CTBC takeover attempt of Shin Kong
Taiwan
TAIPEI : Taiwan's financial regulator rejected on Monday a takeover attempt by financial conglomerate CTBC of rival Shin Kong saying its plans were incomplete. CTBC made an unexpected bid for Shin Kong last month, upending a proposal for Shin Kong to merge with another peer, Taishin. Shin Kong has said it views Taishin as its preferred bidder. Taiwan's financial services industry is domestically focused and fragmented, and Taishin and Shin Kong hope that by merging they can expand their
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