Bid for ING Life becomes 3-way race

By Park Sae-jin Posted : June 4, 2013, 10:58 Updated : June 4, 2013, 10:58

The bid to take over ING Life, ING Group's life insurance unit in Korea, has been narrowed to a three-way race, market sources said Sunday.

The chance of Kyobo Life Insurance being selected as a priority bidder is slim as the price proposed by Kyobo was said to be far less than those of three competitors - Hanwha Life, Dongyang Life and MBK, the sources said.

By Josephine Liu Yan Yee

Park Sae-jin swatchsjp@ajunews.com

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