Market Chatter: HSBC Holdings Tasks Banks to Line Up Bids for Indonesian Consumer Business

MT Newswires

02/27

HSBC Holdings (HKG:0005) is working with some of Asia's largest banks to attract bids for its Indonesian consumer business, Bloomberg News reported Thursday.

Singapore-based DBS Group (SGX:D05), Oversea-Chinese Banking (SGX:O39), and United Overseas Bank (SGX:U11), as well as Malaysia's CIMB Group (KLSE:CIMB) and Japan's Sumitomo Mitsui Financial Group have been tasked with lining up bids for the business by mid-March, the report said, citing sources familiar with the matter.

A transaction may value the assets at more than $200 million, the report said.

HSBC has been reviewing its retail business in Australia, Indonesia, and Egypt but is yet to make a decision, the report said.

An HSBC spokesperson declined to comment regarding the strategic review for Indonesia, Bloomberg said, and representatives from DBS, UOB, OCBC, CIMB and SMFG also declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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This information is believed to be from reliable sources but may include rumor and speculation. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HSHD.SI","symbol_name":"HSBC HK SDR 5to1","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2614900758","we_media_id":"1060499803","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2614900758","pubTimestamp":1772163454,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"MT Newswires","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}