RBS Asia deal announcement looking 'unlikely' by Thursday
Royal Bank of Scotland's long-awaited deal to secure a buyer for its Asian business has hit a bump in the road, meaning the deal may not be unveiled on Thursday as has been widely speculated, people knowledgeable of the matter said.
Royal Bank of Scotland's long-awaited deal to secure a buyer for its Asian business has hit a bump in the road, meaning the deal may not be unveiled on Thursday as has been widely speculated, people knowledgeable of the matter said.
It had been expected that RBS would announce a deal with either CIMB Group, a Kuala Lumpur-based firm, or China International Capital, the country's largest investment bank.
Thus, the lender is reportedly still hashing out the finer points.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
One source, as reported by the Wall Street Journal, said that there is a problem over RBS's securities-trading license in South Korea, which RBS is reluctant to sell because it is considered to be difficult to dip in and out of Korea's market.
Hence, the deal is now said to be looking 'unlikely'.
RBS, which has operations in 11 countries in Asia, had wanted to unveil the deal ahead of or alongside its full-year results.
An RBS spokeswoman told WSJ: "RBS remains in active discussions with other parties interested in acquiring various parts of the businesses we have identified for exit in Asia. Further updates will be provided based on developments."
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
MPs warn over Lifetime ISAs which could leave savers out of pocket
The Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
-
FCA reveals 'once in a generation' advice changes - what the reforms mean for you
Consumers to get free access to financial advice type help for pensions and investment following proposed changes from the regulator