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HSBC denies new deadline for $6.3 billion KEB deal

Reuters – HSBC Holdings on Thursday denied a South Korean media report saying it had agreed with U.S. private equity firm Lone Star to set a new deadline for a $6.3 billion deal for control of Korea Exchange Bank.

"We have not created a deadline," HSBC spokesman David Hall said.

"Our original position stands, in that either side has the option to walk away, but we made it clear we are interested in continuing this deal."

Online news outlet EDaily, citing financial industry sources, reported that the two sides had agreed to maintain the deal, which was supposed to be wrapped up by July 31, until the end of September.

Lone Star’s PR agency in Seoul said there had been no announcement on an extension to the deal, declining to comment further. A KEB spokesman said he was not aware of any developments.

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