Watchman Alfrescian Loyal Joined Mar 12, 2009 Messages 13,160 Points 0 Oct 8, 2009 #1 HSBC in advanced talks on buying RBS Asia assets Posted: 07 October 2009 2149 hrs HONG KONG: HSBC is in advanced talks to buy the Asian retail and commercial banking assets of Royal Bank of Scotland as a Standard Chartered bid for the lender has stalled over the price, a report said on Wednesday. The discussions involve HSBC taking over RBS's interests in China, India and Malaysia, the Wall Street Journal quoted an unnamed source close to the situation as saying. "RBS is in on-going discussions with bidders for the remaining assets it has decided to sell in Asia and will make further announcements, as appropriate, in due course," RBS spokeswoman Yuk Min Hui was quoted by the paper as saying. HSBC and Standard Chartered were unavailable for comment. The news comes after the Financial Times last month said that plans by RBS to sell its Chinese assets to Standard Chartered had run into problems and looked set to fail. It also follows comments by HSBC head Michael Geoghegan that he planned to delay any rush to expand the bank because of concerns there will be a second economic downturn in the coming months. RBS is majority-owned by the British government after being ravaged by the credit crunch. - AFP/sc
HSBC in advanced talks on buying RBS Asia assets Posted: 07 October 2009 2149 hrs HONG KONG: HSBC is in advanced talks to buy the Asian retail and commercial banking assets of Royal Bank of Scotland as a Standard Chartered bid for the lender has stalled over the price, a report said on Wednesday. The discussions involve HSBC taking over RBS's interests in China, India and Malaysia, the Wall Street Journal quoted an unnamed source close to the situation as saying. "RBS is in on-going discussions with bidders for the remaining assets it has decided to sell in Asia and will make further announcements, as appropriate, in due course," RBS spokeswoman Yuk Min Hui was quoted by the paper as saying. HSBC and Standard Chartered were unavailable for comment. The news comes after the Financial Times last month said that plans by RBS to sell its Chinese assets to Standard Chartered had run into problems and looked set to fail. It also follows comments by HSBC head Michael Geoghegan that he planned to delay any rush to expand the bank because of concerns there will be a second economic downturn in the coming months. RBS is majority-owned by the British government after being ravaged by the credit crunch. - AFP/sc
