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SEOUL (Reuters) - South Korean conglomerate Lotte Group, the subject of a wide-ranging corruption investigation, is still intent on seeking an initial public offering for its Hotel Lotte arm, but can only proceed with the plan after prosecutors conclude their probe, a spokesman said on Thursday.
Early on Thursday a Seoul Central District Court judge said the court had rejected a request by prosecutors for a warrant to arrest Lotte Group chairman Shin Dong-bin in connection with the investigation.
The probe, which became public in June, derailed Lotte Group's previous plan for a $4.5 billion IPO for Hotel Lotte.
Reporting by Joyce Lee; Editing by Kenneth Maxwell