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AIG Nears Takeover of Insolvent Korean Brokerages

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NU Online News Service, July 13, 10:10 a.m. – American International Group Inc., New York, is in a final stage in negotiations to acquire a controlling stake in Hyundai Investment Trust Management Company and its two other units, Hyundai Securities Company and Hyundai Investment Trust & Securities, said Lee Keun-young, chairman of the Financial Supervisory Commission, the country’s financial regulatory body, in an interview with the Korea Broadcasting System Radio.