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HSBC might buy RBS
HSBC Holdings Plc (HSBC) is believed to be in the process of signing an agreement to buy Royal Bank of Scotland’s (RBS) retail and small and medium enterprises business in India, China and Malaysia.
The talks between the two are believed to be in the advanced stage. RBS’s sale in the Asian market has been declining. Its assets in India and China are valued in the low hundreds of millions of pounds, which mean RBS could fail selling all the Asian assets at their initial valuation of £1 billion to £1.5 billion.