KDB Financial to buy HSBC assets

10th Oct 2011 15:41

South Korean government-owned KDB Financial Group is in talks to buy HSBC´s South Korean retail banking operations, people familiar with the situation said Monday, in the latest move in the U.K. bank's retreat from retail businesses that lack scale, according to Dow Jones Newswires.As of 3:40PM shares of HSBC are moving up by 1.2% to the 515.1p mark in London trading.AB

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