RBS Still In Talks With All Parties On Asia Operations - Source
May 27 2009 - 7:14AM
Dow Jones News
Royal Bank of Scotland Group PLC (RBS) is still in talks with
all parties which have shown interest in its Asian retail and
commercial banking operations, a person familiar with the matter
said Wednesday.
The talks continue with Australia and New Zealand Banking Group
Ltd. (ANZ.AU), HSBC Holdings PLC (HBC) and Standard Chartered PLC
(STAN.LN), the person said, noting even if not all parties had
submitted bids yet, it didn't mean talks had been broken off.
Earlier, another person familiar with the transaction said HSBC
hadn't submitted a bid for the businesses in Asia which RBS has put
up for sale.
Other media also reported Standard Chartered hadn't submitted a
bid.
ANZ earlier Wednesday said it is raising A$2.85 billion ($1.96
billion) to help fund its bid for "some" of RBS' Asian assets. It
didn't specify which assets it would bid for.
The businesses for sale are in India, Pakistan, China, Taiwan,
Hong Kong, Indonesia, Malaysia and Singapore and include affluent
banking, cards and consumer finance, business banking and
international wealth management. They have a combined book value of
GBP300 million.
Company Web site: www.rbs.com
-By Ragnhild Kjetland, Dow Jones Newswires; +44 207 842 9268;
ragnhild.kjetland@dowjones.com (Vladimir Guevarra contributed to
this item.)
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