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Fubon Financial rejects rumors Jih Sun deal related to Chinese tycoon
12/21/2020 03:20 PM
CNA file photo
Taipei, Dec. 21 (CNA) Fubon Financial Holding Co., one of the leading financial holding companies in Taiwan, on Monday dismissed speculation that its deal to acquire the smaller Jih Sun Financial Holding Co. is aimed at helping the latter s Chinese tycoon shareholder to dispose of his assets for cash.
In a statement, Fubon Financial said before it announced on Friday a tender offer to acquire Jih Sun Financial that the company had never made any contact with any of the latter s two majority shareholders Japan s Shinsei Bank and Hong Kong-based Capital Target Ltd. which is reportedly owned by Chinese tycoon Xiao Jianhua (肖建華), head of the Chinese conglomerate Tomorrow Holding. ....

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