HSBC (HBC) is said to be the frontrunner in a bid to buy a majority stake in South Africa's...

|About: HSBC Holdings PLC (HSBC)|By:, SA News Editor

HSBC (HBC) is said to be the frontrunner in a bid to buy a majority stake in South Africa's Nedbank, edging out rival bidder Standard Chartered. The multi-billion dollar deal could be announced as soon as Monday, and would help HSBC build its presence in Africa's largest economy.