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OCBC seen securing funds for HK bid

Prudent cash management points to a combination of cash and debt

Eye on the prize: On Jan 6, OCBC said it is in exclusive talks with the Hong Kong bank's majority shareholders until the end of the month to buy over Wing Hang Bank for an estimated $5.8 billion. - PHOTO: BLOOMBERG

OCBC Bank is said to be getting its war chest ready for a proposed takeover of Hong Kong's Wing Hang Bank and talking to several banks about the funding. Under takeover rules in Hong Kong, the acquirer has to show it has enough cash or financial ability to launch a deal, said a source. Later,