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Update: Market Chatter: KB Kookmin Bank, BNP Paribas in Fray for 15% Techcombank Stake Worth $2 Billion

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(Updates to add that BNP Paribas declined to comment)

KB Financial's (KRX:105560) unit KB Kookmin Bank and French leader BNP Paribas are separately mulling acquiring at least a 15% strategic stake in Vietnam's Techcombank for $2 billion, Reuters reported Wednesday, citing sources.

The investment would give the successful bidder access to Vietnam's fast-growing banking market and provide Techcombank with a strategic foreign partner.

BNP Paribas declined to comment to, while KB Kookmin and Vietnam Techcombank did not immediately respond to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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