Chinese regulators are reportedly set to reject HSBC's (HBC) deal to sell a 15.7% stake in Ping...

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

Chinese regulators are reportedly set to reject HSBC's (HBC) deal to sell a 15.7% stake in Ping An Insurance for $9.39B because the funding for the sale isn't yet in place. The sale would have allowed HSBC to book a massive gain on the insurer ahead of tougher capital rules.