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22 October 2017 19:22 (South Africa)

HSBC-Nedbank deal off, probably

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

According to an article in the Financial Times, HSBC is likely to walk away from its potential $8 billion takeover of Nedbank. Sources told the FT that Nedbank's retail business contained unpalatable business risks. The two parties signed a two-month exclusive talks deal, but the time is up at the weekend, and HSBC is unlikely to make an offer before then. Other buyers, including Standard Chartered, are reportedly still interested in acquiring Nedbank.  Read more: Sapa-AFP, via TimesLive

  • Andy Rice
    andy rice
    Andy Rice

    Andy Rice is a founding partner of Yellowwood Future Architects, a marketing strategy consultancy. In his other lives, he is the southern hemisphere's only supporter of Cambridge United Football Club, and was once upon a time the South African National Spoofing Champion. He has played football at Wembley and cricket at Lord's within the same weekend, but troubled the scorer on neither occasion. Things could only go up from here.

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