HSBC's sale of Ping An stake draws mounting scepticism
- Published: 9 Jan 2013 at 17.21
- Online news: Asia
The sale by HSBC Holdings Plc (HSBA) of its stake in Ping An Insurance (Group) to Thai billionaire Dhanin Chearavanont is under question, with speculation that Chinese regulators may block the US$9.4 billion deal.
Regulations set by China's insurance watchdog may bar the use of external financing for such deals, Esther Chwei, an analyst at Deutsche Bank AG in Hong Kong, said in a note.
China Development Bank, a policy lender that had agreed to fund part of the purchase for Dhanin's Charoen Pokphand Group Co, has canceled its loans, Caixin reported on Tuesday.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.
