Hanwha mulling purchase of Prudential's local brokerage

SEOUL, Jan. 12 (Yonhap) -- Hanwha Securities Co. is mulling the acquisition of
the South Korean brokerage unit of U.S. financial giant Prudential Financial
Inc., Hanwha said Tuesday.

"The company is studying the purchase of Prudential Investment & Securities Co.
as a tool to evolve into a competitive securities company," Hanwha said in a
regulatory filing to the Korea Exchange.
The brokerage company, however, dismissed market speculation that it may sell new
shares to fund the deal.
Shares of Hanwha fell 5.46 percent to 9,690 won (US$8.6) as of 11:55 a.m. on the
Seoul bourse.
pbr@yna.co.kr
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