Taiwan's CTBC in talks to buy T$15b stake in Thai LH Financial unit: source

[TAIPEI] CTBC Financial Holding Co, the parent of Taiwan's biggest credit card issuer, is in talks to buy a stake of up to 40 per cent in Thai firm LH Financial Group's banking unit, a person familiar with the matter said on Tuesday.

The potential deal is worth around T$15 billion (S$617 million) and is subject to regulatory clearance, the person said, declining to be identified as the matter had yet to be made public.

The deal is a non-binding proposal subject to approvals in both Taiwan and Thailand, the person said.

LH Financial officials could not be reached immediately for comment.

REUTERS