ING accepts final bidsDutch ING Groep has accepted a final round...

ING accepts final bids
Dutch ING Groep has accepted a final round of bids in the auction of its Asian life operations (CN Asia 116), which analysts say could fetch more than $US7bn ($A6.8bn). According to The Wall Street Journal, Canada's Manulife Financial Corp and Hong Kong's AIA Group Ltd are among the bidders. Other final-round bidders include South Korea's KB Financial Group Inc, which is only offering for the South Korean part, and Korea Life Insurance Co, reportedly just interested in the south-east Asian operation. Although it was unclear if they submitted bids in the latest round, other interested suitors include Hong Kong businessman Richard Li (CN Asia 118). Former AIA chief executive Mark Wilson is heading a rival bid for all ING's Asian insurance assets. From Japan, Dai-ichi Life Insurance Co is said to have bid on ING's south-east Asian assets in a previous round. The Dutch financial-services company was also taking bids for its smaller Asian asset-management arm.