Brief: Taiwan's Top Financial Regulator Says It Denies CTBC's Bid To Acquire Shin Kong

Shin Kong Financial Holding Co

16/09/2024 12:23

Sept 16 (Reuters) - Taiwan's Top Financial Regulator
Said on Monday, 
    * IT DENIES CTBC'S  2891.TW  BID TO ACQUIRE SHIN KONG
 2888.TW 
    * CTBC'S PLAN TO ACQUIRE SHIN KONG NOT COMPLETE
    * CTBC COULD NOT SHOW IT COULD ADEQUATELY MANAGE FINANCIAL
CONDITION OF SHIN KONG'S LIFE INSURANCE UNIT
    * IN RECENT YEARS IT HAS NOT ENCOURAGED MERGERS VIA BUYING
SHARES
ON THE MARKE
    * DECISION TODAY IS FINAL AS FSC HAS PREVIOUSLY ASKED CTBC
TO
PROVIDE ADDITIONAL DOCUMENTS, SOME OF WHICH MET REQUIREMENTS
WHILE OTHERS DID NOT

Source text for Eikon:  ID: 
Further company coverage:  2891.TW 

 (Reporting by Faith Hung)
 ((faith.hung@thomsonreuters.com;))