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HSBC HOLDINGS CEO Elheder: Proposed Privatization Demonstrates Confidence in HK's Future
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HSBC HOLDINGS (00005.HK) has proposed the privatization of HANG SENG BANK (00011.HK), with HSBC HOLDINGS CEO Georges Elheder describing this move as a commercial decision purely based on strategic considerations in an interview with Bloomberg. Elhedery underscored that the proposed privatization reflects HSBC’s confidence in Hong Kong’s long-term prospects, positioning it as a growth-driven investment unrelated to bad debt concerns. He also highlighted the 30% premium as a very promising and appealing offer. Elhedery further noted that the proposed privatization will enable HSBC to ramp up investments in technology and innovation, while unlocking synergies and improving operational efficiency. He added that the deal is forecast to streamline the bank’s structure further, and that the transaction will not impact HSBC’s dividend payout ratio for 2025, while both Hong Kong and UK regulatory authorities have been fully informed of the initiative. AAStocks Financial News |
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