Proposals call for London-listed HSBC to engage in a ‘strategic restructuring’ to create a separately listed bank based in Hong Kong.
Ping An outlined revised proposals for restructuring that highlight HSBC’s precarious position as US-China tensions rise, with some observers doubting whether Europe’s largest lender can continue to straddle East and West. The previous proposals involved spinning off the bank’s Asia business into a separate entity listed and headquartered in Hong Kong, and a consolidation of the bank’s interests in the region, Huang said.
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