(Reuters) - Daiei, which owns 53 percent of OMC, has been trying to sell a stake in the credit card subsidiary to reduce its interest-bearing debt while SMFG has been taking steps to beef up its position in the consumer finance sector.
The deal will create one of the industry's largest players with about 36 million cardholders, allowing OMC and SMFG to pool their resources in a bid to expand sales and lower costs.
Read more at Reuters.com Mergers News
The deal will create one of the industry's largest players with about 36 million cardholders, allowing OMC and SMFG to pool their resources in a bid to expand sales and lower costs.
Read more at Reuters.com Mergers News
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