HSBC wins bid to acquire Taiwan's Chinese Bank
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HSBC Holdings said Friday it will acquire The Chinese Bank in Taiwan after winning a government auction here, substantially boosting its operations on the island.
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HSBC Holdings Plc, Europe&#39;s biggest bank by market value, and Standard Chartered Plc are vying for control of Korea First Bank after neither of the UK-based lenders could agree a price with Newbridge Capital Ltd.
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HSBC Holdings PLC, Europe's biggest bank, agreed to buy a 51 percent stake in Korea Exchange Bank for $6.3 billion as it attempts to boost its presence in the fast-growing Asian market.
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Standard Chartered, the Britain-based emerging markets bank, said it has agreed to buy Taiwan's Hsinchu International Bank for 1.2 billion US dollars (947 million euros).
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The sale of National Australia Bank&#39;s Irish businesses reached a surprise conclusion yesterday when Denmark&#39;s Danske Bank clinched a Â£967m takeover.
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HSBC, the UK's largest bank, agrees to buy 51% of Korea Exchange Bank for $6.3bn.
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Barclays, the third-biggest British bank, said it had made an undisclosed offer for the wealth business of ING Securities Bank (France), a unit of Dutch banking giant ING Group.
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Spain's biggest bank Banco Santander Central Hispano (SCH) said it was finalising its acquisition of Britain's Abbey National to create the world's tenth-largest bank.
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British-based banking giant HSBC Holdings is to team up with Shanxi Trust and Investment Corp to form a joint venture fund management company in China, HSBC announced.
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LONDON (Dow Jones)--HSBC Holdings PLC (HBC) has expressed an interest in the $3 billion store and credit card operations of Federated Department Stores Inc.
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HSBC Holdings Plc  has contacted  Lone Star  about buying Korea Exchange Bank (KEB)  (004940.KS) from the U.S. private equity fund, the U.K.&#39;s Daily  Telegraph reported on Tuesday.
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BRUSSELS  - The European Union has cleared Banco Santander Central Hispano SA's acquisition of British rival Abbey National PLC.
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HSBC is interested in buying the $3 billion (1.6 billion pound) store and credit card operations of US retailer Federated Department Stores (FD.
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(InfoWorld) - Taipei may have to rethink its China investment policies in the wake of an offer by a foreign group to buy the world's largest chip assembly company, Taiwan's Advanced Semiconductor EngineeringÂ (ASE). Part of the attraction of the deal is that by changing ownership, the company would cease to be Taiwanese, and therefore be allowed to invest in China as it pleases, pundits say. The trouble for many Taiwanese chip makers in recent years has been the tight leash Taipei keeps on technology investment bound for political rival China. Taiwan and China remain enemies after splitting in 1949 amid civil war. The island fears China could use chip technology to bolster its military capabilities against Taiwan. Despite the strained relationship and tough investment rules, China remains by far the favored destination for Taiwanese investment due to their shared language and culture, and China's lower costs and huge potential market. The deal for ASE, a $5.5 billion offer from a consortium led by the private equity firm Carlyle Group, would be a huge positive for ASE, transforming it into a foreign entity and allowing it to build chip assembly plants in China, according to Fubon Securities. Currently, ASE has no chip assembly investments in China, despite the fact that earlier this year Taipei gave a green light to chip makers to invest in low-end chip assembly. Despite the apparent opening, not a single application has been approved by Taipei, and companies remain unsure of how to proceed with such investment. Analysts argue that the approval process remains very much subject to politics in Taiwan, due mainly to the rivalry with China. A foreign takeover such as the one Carlyle and ASE are discussing would remove such political pressures and put China investments on the fast track. Indeed, theÂ embattled former chairmanÂ of chip foundry giant United Microelectronics, Robert Tsao, was quoted by local media as saying the possibility of such buy-outs excited him, and that UMC would welcome similar offers. Tsao is a prime example of the difficulties Taiwanese tech companies and executives face when investing in China. He and another key UMC executiveÂ resigned early this yearÂ after beingÂ indicted by Taiwanese prosecutorsÂ over their alleged role in the establishment of Chinese chip maker, He Jian Technology (Suzhou). The court case is still being heard. The government began investigating UMC over He Jian a few years ago, and fined UMC for failing to apply for permission to work with He Jian. Taipei has also leveled fines on UMC and He Jian executives. Tsao and his colleagues maintain that they have done nothing wrong. For its part, the government plans to review the possible ASE deal over its potential impact on the Taiwan Stock Exchange, since the company would likely be de-listed if it is purchased by Carlyle. Economics Minister Chen Ruey-long on Monday said Taipei needs to keep on top of the issue in case it becomes a trend, because such purchases could have long term effects on the economic development of the island. The review has nothing to do with China policy, he said.
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LONDON/AMSTERDAM  - Royal Bank of Scotland  and its partners have sweetened their 71.1 billion-euro ($98 billion) bid for Dutch bank ABN AMRO , putting in more cash in an attempt to beat rival suitor Barclays .
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The bid by the Royal Bank of Scotland Group and two other European banks topped an offer by Barclays.
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A consortium led by Citigroup Inc.   has won final regulatory approval for its $3.1 billion  purchase of 85.6 percent of Guangdong Development Bank (GDB),  the China Banking Regulatory Commission said on Monday, paving  the way for a restructuring of the troubled southern China  lender.