LONDON :Europe's biggest bank HSBC defeated a resolution from Hong Kong-based shareholders and backed by major investor Ping An to potentially spin-off its lucrative Asia business, the bank's chairman Mark Tucker said on Friday.
The special resolutions submitted by individual investor Ken Lui recommending the bank boost dividends and review its strategy were both defeated, Tucker said. Final voting results will be published later on Friday.
Source: News Formal (newsformal.com)
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