Defend Truth

HSBC-Nedbank deal off, probably

By Andy Rice
15 Oct 2010
0

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

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