Soros invests in Seoul firm

Soros invests in Seoul firm

SEOUL (AFP): U.S. financier George Soros is engaged in talks to buy into Seoul Securities Co., an official of the South Korean brokerage said Friday.

"It is true that Soros' Quantum Fund is engaged in talks with us," the official said. He declined to give details.

Yonhap news agency said Seoul Securities wants Quantum Fund to acquire all unclaimed shares from the recapitalization of the brokerage house by 10 million shares scheduled for late this month.

Seoul Securities also wants Quantum to buy convertible bonds, Yonhap said.

"Soros is likely to acquire less than 50 percent of the equity, without taking over the management," the news agency quoted an unidentified Seoul Securities official as saying.