Exclusive: HSBC Hires Lazard For Possible Nedbank Offer
http://blogs.news.sky.com/kleinman/Post:1a5a5a34-4c82-415f-bcb0-d32aceb51644
For the last four weeks South Africa has been the focus of the world’s attention as the host of the football World Cup.
It appears to be drawing the gaze of a number of the world’s biggest banks, too. I have learned that HSBC is in the early stages of assessing a bid for Nedbank, one of South Africa’s biggest banking groups.
HSBC has appointed Lazard, the investment bank, to advise it on a possible takeover deal that would cost it several billion pounds. Nedbank is majority-owned by Old Mutual, the London-listed banking and insurance group and has been widely touted as a takeover target for many months.
(via Instapaper)
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