SEOUL, Jan. 18 (UPI) -- A Korea Development Bank spokesman said the bank had not decided whether or not to make a bid for Siam City Bank in Thailand, a deal estimated at $1 billion.
"We are one of several potential bidders shortlisted for the SCIB. But we have yet to make a final decision," said a representative of the bank's international affairs department.
The Korea Times reported Monday the government of Thailand has announced plans to sell 47.6 percent of the nationalized bank and turn over management to the successful bidder.
The list of potential bidders includes Canada's Bank of Nova Scotia, Britain's HSBC and Malaysia's Hong Leong Bank, the newspaper said.
SCIB's market valuation is about $1.79 billion, making the potential deal for 47.6 percent around $1 billion, the Times said.
