KT to Pursue Acquisition of Woori Financial

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Monday, September 2nd, 2013
SEOUL, KOREA- According to investment banking sources on September 1, KT will push for the acquisition of Woori Financial by organizing a task force within its corporate center, the strategic unit of the group. An investment banker close to the deal said, "KT Group is currently weighing how much synergies it can expect from a merger of Woori Financial with its BC Card."
Woori Financial, Korea's No. 4 consumer finance company following Hyundai Capital, Lotte Capital, and Aju Capital, is specialized in auto loans, personal loans, and corporate financing.
KT figures that the addition of Woori Financial to its roster of financial service firms could help its "KT Auto Lease," a financing unit under the wings of KT Kumho Rent-a-car, and BC Card with 27 million credit card members.
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