Hong Kong: HSBC has resumed talks with Royal Bank of Scotland over the sale of the remaining retail and commercial units that the bailed out UK bank owns in Asia, sources familiar with the matter said on Thursday.
HSBC and other banks have approached RBS and its advisers about the auction after Standard Chartered's exclusive negotiations with RBS expired recently, the sources said.
RBS is selling its retail and commercial banking divisions in China, India and Malaysia, worth "a few hundred million" dollars, according to a source familiar with the matter. Previous reports put the value at USD 200 million.
Sources said talks with potential buyers were in early stages, since StanChart's exclusivity only ended within the past week or so.
Bureau Report
First Published: Thursday, October 08, 2009, 12:17