06.26.2001
Bank SinoPac targeted for merger

• Development: Rumors suggest that Bank SinoPac has been targeted for merger, with one undisclosed foreign bank considering a high price for acquisition. Meanwhile, CDIB’s spokesman indicated first priority was co-operation with the bank.

• Analysis: CDIB is rumored to have an interest in merging with Bank SinoPac. However, SinoPac has plans to transform into a financial holding company, rather than merge.

• Primasia View: We believe current market price of Bank SinoPac has factored in news of possible CDIB merger. We do not expect a merger in the near future.

LindaLiu@Primasia.com +886-[0]2-2547-8867