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OCBC Reportedly Leads in Bid for HSBC HOLDINGS‘ Retail Assets in Indonesia
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OCBC submitted a higher bid than other competitors in the tender for HSBC HOLDINGS (00005.HK)'s retail assets in Indonesia, making it the most likely buyer, Bloomberg quoted sources as saying. It is understood that OCBC's offer could value HSBC HOLDINGS' retail business in Indonesia at more than IDR6 trillion (approx. US$350 million). However, negotiations are still ongoing and no final decision has been made. New bidders may also emerge. Other financial institutions that had considered bidding for the assets include DBS Group, United Overseas Bank, CIMB Group and Sumitomo Mitsui Financial Group (8316.JP), sources added. Auto-translated by AI AASTOCKS Financial News |
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