South Korea's Woori sale set to founder again

All but one bidder for South Korea's biggest bank privatization have pulled out, likely killing an ill-fated deal that analysts said was never going to succeed because of political opposition.
The financial regulator in charge of the landmark bank privatization said on Wednesday that a final decision would be made on Friday after local private equity firm MBK Partners submitted the only bid for Woori Financial Holdings 05300.KS.
Jun Sung-in, a professor at Hongik University in Seoul, said that it would be "no surprise" if the potential $5.1 billion deal failed.
"In the first place, the government had no willingness at all to sell the country's biggest banking group as there are just too many interest groups involved."