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Article: Blow for RBS as Asia sell-off falls through [Edition 2]

Article from:
The Evening Standard (London, England)
Article date:
October 5, 2009
Author:
Copyright

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 non-core businesses to repair its balance sheet after the Government's Pounds 20 billion 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 ...

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