Singapore's Oversea-Chinese Banking Corp (OCBC) said Monday it was in exclusive talks to acquire Hong Kong's Wing Hang Bank, in a move that could give it greater access to the Chinese market.
Dow Jones Newswires said a potential deal could value the Hong Kong lender at more than $5.0 billion.
OCBC said in a statement to the Singapore Exchange it signed an "exclusivity agreement" on December 31 with the substantial shareholders of Wing Hang.