20th Feb 2015 06:57
LONDON (Alliance News) - Bidders for the private banking assets being sold by Royal Bank of Scotland Group PLC have pointed to the allegations over tax evasion by clients of HSBC Holdings PLC's Swiss unit to lower the price it would cost to buy Coutts International, according to the FT on Thursday.
The report, which cited people familiar with the situation, said that Credit Suisse, Union Bancaire Privée and a combination of Société Générale and DBS are among those in the final rounds of the bidding for Coutts International.
The bank is expected to be valued at a premium to its book value of CHF1.2 billion, the report said.
http://www.ft.com/cms/s/0/e857f05c-b85b-11e4-b6a5-00144feab7de.html#axzz3S6ZYQEKQ
By Samuel Agini; [email protected]; @samuelagini
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