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Shinsei Bank to Reject SBI's Tender Offer

Shinsei Bank to Reject SBI's Tender Offer

   Tokyo, Oct. 11 (Jiji Press)--Japan's Shinsei Bank <8303> is preparing to express its opposition to a tender offer by online financial group SBI Holdings Inc. <8473>, it was learned Monday.
   The bank will make its opinion clear after a decision at a board meeting as early as mid-October. SBI's attempt to take control of the bank is thus expected to develop into a hostile takeover bid, an unusual move in the country's banking industry.

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AFP-JIJI PRESS NEWS JOURNAL


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