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BNP Paribas buys stake in Korean banking firm

April 23, 2006

Datamonitor:European banking firm BNP Paribas has acquired a 5.6 percent stake in Shinhan Financial Group from the Korean government, a move that increases BNP's equity interest in Shinhan to 9.4 percent. Before the acquisition, BNP Paribas held 3.8 percent of Shinhan Financial Group's share capital, most of which had been acquired since 2001, when the Korean firm was created and listed on the stock exchange.

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