Shares in Woori Finance Holdings (053000.KS) jumped nearly 3.6 percent on Friday on a local media report a United Arab Emirates sovereign fund may buy a stake in the firm.
"The report buoyed appetite for the shares as such a stake purchase would ease some overhang issues," said Ku Yong-uk, a market analyst at Daewoo Securities.
Seoul has agreed to sign a "give-and-take" deal with Abu Dhabi to help the fund purchase a stake in a local lender in exchange for securing rights to oil fields there, the Korea Times reported on Thursday, citing a source close to South Korea's presidential office.
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