Deals Rumor Mill: Wing Hang, Vodafone, Telefonica

Law360, New York (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...
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