HSBC has made a formal offer for Denizbank, Sky says

Some analysts are this morning citing reports out on Sky News that HSBC has made a formal offer for Dexia´s Turkish business, Denizbank, of over 3bn pounds. The possibility also exists, apparently, that HSBC might not buy the whole business, in which case the price would be considerably lower.

By MoneyWeek

published 22 November 2011

in Features

Some analysts are this morning citing reports out on Sky News that HSBC has made a formal offer for Dexias Turkish business, Denizbank, of over 3bn pounds. The possibility also exists, apparently, that HSBC might not buy the whole business, in which case the price would be considerably lower.

Those some analysts add that, "We have always believed that Denizbank is a good business and the easiest part of the Dexia group to offload."

Qatar National Bank is also believed to be in the running for Denizbank.