|
|
Article: Standard Chartered walks away from sale of RBS assets
- Article from:
- The Scotsman
- Article date:
- October 5, 2009
- Author:
CopyrightCopyright 2009 The Scotsman. Provided by ProQuest LLC. (Hide copyright information)
|
ROYAL Bank of Scotland's attempts to streamline its international
business have hit another hurdle, after a leading contender walked
away from a package of its Asian businesses.
Standard Chartered, the London-based, Asian-focused bank, is
thought to have abandoned the process to buy RBS's businesses in
India, China and Malaysia.
According to reports, Standard Chartered tabled a bid for the
assets, possibly as high as dollars 250 million (GBP 157m), but
walked away from the deal after failing to agree a price with
Edinburgh-based RBS.
The assets being sold were identified by chief executive Stephen
Hester as the bank, majority-owned by the UK taxpayer, sought to cut
down the size of the ...