KB Financial, Korea Life Insurance Submit Bids For ING's Korean Operations -Report Ing ING

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KB Financial, Korea Life Insurance Submit Bids For ING's Korean Operations -Report

SEOUL -(Dow Jones)- South Korea's KB Financial Group Inc. (105560.SE) and Korea Life Insurance Co. (088350.SE) submitted separate bids to buy ING Groep N.V. (ING)'s Korean life insurance operations, Edaily reported on its website Saturday, citing unnamed financial industry sources. The two local financial companies submitted a letter of intent Friday, confirming their earlier interest in the insurer, the report said, without elaborating. Unlisted Korean life insurer Kyobo Life Insurance Co., which also expressed interest, didn't submit a bid Friday, according to the report. -By Seoul Bureau, Dow Jones Newswires; 822-3700-1900; djnews.seoul@dowjones.com

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Ing Share News

KB Financial, Korea Life Insurance Submit Bids For ING's Korean Operations -Report