HSBC's planned sale of its French retail banking business to Cerberus-backed My Money Group could fail due to interest rate hikes in France that boosted the amount of capital the buyer will need, the British bank said on Friday.
The potential failure of the deal would undo one of HSBC’s biggest strategic asset sales in recent years, and a key pillar of its plan to exit slow-growth Western markets in favour of Asia
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Reports of renewed interest from First Abu Dhabi Bank (FAB) in acquiring Standard Chartered could breathe new life into its stock, which has languished for years on stalled revenue growth.