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Bank talks to bidders

Grand Commercial Bank (萬通銀行), controlled by Taiwan's largest food company, the President Group (統一集團), said it's up for sale and in talks with "three to four" potential buyers, declining to name the bidders.

CTB Financial Holding Co (交銀金控), a Taiwan government-controlled lender, offered NT$12 a share to buy Grand Commercial, a Chinese-language newspaper reported yesterday, citing unidentified people.

CTB's evaluation of Grand Commercial will be completed by the end of the month, the paper said.

"We are still in discussions, though no offer price has been mentioned, while some are doing evaluations," said Executive Vice President Peng Yu-fa (彭玉發). "We don't have a timetable."

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