Deals Rumor Mill: Wing Hang, Vodafone, Telefonica

By Karlee Weinmann (January 3, 2014, 2:46 PM EST) -- Southeast Asian lender Oversea-Chinese Banking Corp. made a binding offer for Hong Kong's sought-after Wing Hang Bank Ltd., sources told Bloomberg on Friday. The family-run target's owners had been hoping to capture around $5 billion in the sale. The bank has a market value around $4.6 billion — about 1.7 times its 2013 book value. Several suitors have balked at the asking price. The bid from OCBC, a powerhouse in its home region, clocks in at less than twice the book value — below the threshold the sellers are seeking. If the deal goes through, it would mark OCBC's biggest acquisition to date as it continues an expansion push outside its home country of Singapore....

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