HSBC’s Sale of Canada Unit to RBC Is Opposed by Conservatives ...Middle East

The leader of Canada’s main opposition political party says the government should block HSBC Holdings Plc’s sale of its local operations to Royal Bank of Canada. Royal Bank struck an agreement last year to buy HSBC Canada for C$13.5 billion ($9.9 billion), and Finance Minister Chrystia Freeland is expected to make a final decision in early 2024. Freeland “has the power to stop this merger. The Competition Bureau found that HSBC’s mortgage business was a rate disruptor in the Canadian market,” Conservative Leader Pierre Poilievre-bsp-person> said in a statement Friday. “If you have a smaller competitor pulling down rates, … The post HSBC’s Sale of Canada Unit to RBC Is Opposed by Conse

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