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Report: CTBC Financial in talks for stake in LH Financial's banking unit

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Report: CTBC Financial in talks for stake in LH Financial's banking unit

Taiwan's CTBCFinancial Holding Co. Ltd. is in talks to acquire a 40% stake inThailand's LH Financial GroupPCL's banking unit, Reuters reported March 29, citing "aperson familiar with the matter."

The possible deal amounts to about NT$15 billion, the sourcesaid. The deal is still subject to regulatory approval.

LH Financial could not be reached for comment, Reutersreported.

CTBC Financial said March 29 that it has no comment, addingthat if there is any M&A it will act in accordance with relevant laws.

As of March 28, US$1was equivalent to NT$32.62.