Japan's Shinsei opposes SBI's $1.1b bid, sets conditions for support

Japan's Shinsei opposes SBI's $1.1b bid, sets conditions for support

The Shinsei Bank logo is pictured at the lobby of the bank in Tokyo October 22, 2010. REUTERS/Yuriko Nakao

Japan’s Shinsei Bank Ltd on Thursday said it opposed SBI Holdings’ $1.1 billion tender offer bid but could support it if SBI removes the upper limit of its planned share purchases and increases its offer price.