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FT: HSBC close to selling Brazilian unit for ~$4B

Jul. 31, 2015 4:49 PM ETHSBC Holdings plc (HSBC) StockHSBCBy: Eric Jhonsa, SA News Editor1 Comment
  • HSBC is near a deal to unload its Brazilian unit to local bank Bradesco for nearly $4B (close to book value), the FT reports. It adds HSBC hopes to announce the deal on Monday, when Q2 results arrive.
  • Reuters reported earlier this month HSBC is set to sell its Turkish bank to ING, as it continues slashing costs and streamlining its operations. The FT also reports of talks with ING, while stating that deal might not be completed in time to be announced on Monday.

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