2nd Sep 2015 14:33
LONDON (Alliance News) - Talks for ING Groep NV to buy HSBC Holdings PLC's Turkish unit have stalled due to political and market turmoil, Bloomberg News reported on Wednesday.
The report, which cited people with knowledge of the matter, said ING had been set to announce the acquisition by the end of August.
ING may need one or two more months to reach a deal with HSBC, according to the report.
Citing three people with knowledge of the matter, the report said that HSBC is still talking with other potential buyers.
HSBC shares were up 0.3% at 500.50 pence on Wednesday afternoon in London.
http://www.bloomberg.com/news/articles/2015-09-02/hsbc-turkey-sale-to-ing-said-to-stall-on-market-political-risks
By Samuel Agini; [email protected]; @samuelagini
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