HSBC, Nedbank decision unlikely this year
Sep 2, 2010 |
Reuters |
2
comments
SOUTH Africa's head of bank regulation said yesterday he does not expect a decision on HSBC's bid for Nedbank before the end of this year.
HSBC, Europe's biggest bank, has yet to submit a formal application to buy up to a 70percent stake in South Africa's fourth-largest lender, said Errol Kruger, South Africa's Registrar of Banks and head of banking supervision.
HSBC said last week it is in talks with Nedbank's parent company, Old Mutual, about buying a controlling stake in the bank.
Analysts have said regulatory approval is likely to be the biggest hurdle for the proposed deal.
Sep 2, 2010
Gambler
Good move to challenge ABSA.Foreign bank pumping euros into the locals market.Report Abuse
Sep 2, 2010
Gambler
Good move to challenge ABSA.Foreign bank pumping euros into the locals market.Report Abuse