---
title: "HSBC could buy up to 70% of Nedbank"
description: "Old Mutual and HSBC confirmed that they are in exclusive talks over Nedbank, which the insurer owns a controlling stake in. Old Mutual said HSBC could acquire a 70% stake in Nedbank, a deal worth an estimated R49.9 billion. Regulators have declined to comment on whether the Chinese bank will get the necessary clearance to make a take-over bid. HSBC must still pass a barrage of tests before making a bid, which includes due diligence tests and regulatory approvals. Officials with Nedbank said that if the take-over is successful, the bank would still be listed in the Johannesburg and Namibian stock exchanges. Read more: Reuters Africa and TimesLive ."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Andy Rice"
author_url: "https://www.dailymaverick.co.za/author/andyrice/"
canonical_url: "https://www.dailymaverick.co.za/article/2010-08-23-hsbc-could-buy-up-to-70-of-nedbank/"
published: "2010-08-23T09:41:48"
updated: "2013-02-01T20:03:21"
lang: "en-ZA"
word_count: 1
---

# HSBC could buy up to 70% of Nedbank

> Old Mutual and HSBC confirmed that they are in exclusive talks over Nedbank, which the insurer owns a controlling stake in. Old Mutual said HSBC could acquire a 70% stake in Nedbank, a deal worth an estimated R49.9 billion. Regulators have declined to comment on whether the Chinese bank will get the necessary clearance to make a take-over bid. HSBC must still pass a barrage of tests before making a bid, which includes due diligence tests and regulatory approvals. Officials with Nedbank said that if the take-over is successful, the bank would still be listed in the Johannesburg and Namibian stock exchanges. Read more: [Reuters Africa](http://af.reuters.com/article/cameroonNews/idAFLDE67M05Q20100823?sp=true) and [TimesLive](http://www.timeslive.co.za/business/article617641.ece/HSBC-may-acquire-controlling-stake-in-Nedbank).

By Andy Rice · Published 23 August 2010, 11:41 SAST · Updated 1 February 2013, 22:03 SAST

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