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Article: Blow for RBS as Asia sell-off falls through
- Article from:
- The Evening Standard (London, England)
- Article date:
- October 5, 2009
- Author:
CopyrightCopyright 2009 Evening Standard - London. Provided by ProQuest LLC. (Hide copyright information)
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STANDARD Chartered's talks to take over a large part of Royal
Bank of Scotland's operations in India, Malaysia and China have
collapsed.
That will be a major blow to RBS, which is under pressure to sell
off noncore businesses to repair its balance sheet after the
Government's Pounds 20 bailout and reporting the biggest loss in UK
corporate history. RBS is 70% owned by the taxpayer.
The two have been talking for several months over a string of
branches and loan books in the three countries. Standard Chartered
reportedly offered up to $250 million (Pounds 157 million) for the
businesses but RBS said this was not enough.
"At the end of the day we simply could not ...