Connect to share and comment

URGENT ¥¥¥ China says approves HSBC sale of Ping An stake

PlacardEnlarge
(Globalpost/GlobalPost)

China's insurance regulator said Friday it had approved British bank HSBC's sale of its 15.57 percent stake in Ping An, China's second-largest life insurer, to a Thai conglomerate in a $9.4 billion deal.

The green light from the China Insurance Regulatory Commission (CIRC) came just hours before a deadline for approval, and followed media reports that the deal might collapse.

bxs/slb/sr

http://www.globalpost.com/dispatch/news/afp/130201/urgent-china-says-approves-hsbc-sale-ping-stake