HSBC Holdings has made a multi-billion-pound bid for the Turkish retail operations of Dexia, Global Finance reports, citing Sky News. HSBC has made an offer for DenizBank, a wholly owned division of Dexia.
HSBC is said to have bid more than £3 billion, based on DenizBank’s free float trades price in Istanbul. The Franco-Belgian bank has been put on the block after encountering funding difficulties.
Click here for the story from Global Finance.