 |
Bokhyun Lee, Director of Financial Supervisory Service. (Photo=Yonhap News) |
[Alpha Biz= Reporter Kim Jisun] Lee Bok-hyun, the governor of South Korea's Financial Supervisory Service (FSS), expressed concerns about the overheating competition surrounding the ongoing takeover bid for Korea Zinc. He warned that any market-disrupting or unfair trade practices would be met with strict regulatory action.
The FSS announced on the 29th that during a meeting with deputy governors on the 27th, Lee discussed the current issues regarding the Korea Zinc takeover bid. He noted that while healthy competition for control during mergers and acquisitions (M&A) should be left to market forces, the current bid appears to be excessively heated.
Lee emphasized, "Excessive competition could create market instability and undermine trust in the capital markets, so the situation must be carefully monitored." He urged all parties involved in the bid to follow the principles of fair competition and ensure that all procedures are conducted in compliance with regulations.
Additionally, Lee directed the FSS to closely monitor any potential market-disrupting activities, including the spreading of baseless rumors or information that could mislead investors. He instructed the FSS to swiftly launch investigations and apply a zero-tolerance policy to any detected illegal activities.
Lee also advised investors to carefully review disclosures and verify accurate information before making investment decisions, warning that the bid's outcome could lead to stock price declines and potential losses.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
