HSBC - 'Giving Away' French Retail Unit

Closed Thread
  1. #1

    Join Date
    Dec 2002
    Location
    θ–„ζ‰Άζž—
    Posts
    47,964

    HSBC - 'Giving Away' French Retail Unit

    Must be quite a mess over in France if they are willing to walk away from their French unit in these terms..


    Cerberus and a rival investment firm have told HSBC HSBA.L they would buy its French retail arm for a symbolic one euro provided the British bank ploughs more than 500 million euros ($582.70 million) into the business, sources told Reuters.
    https://www.reuters.com/article/us-h...-idUSKBN26J1YQ

  2. #2

    Join Date
    Aug 2013
    Location
    The World
    Posts
    1,948

    Pay EUR 500m to receive USD $1 in return? Why not just wind the thing up then?


  3. #3

    Join Date
    Nov 2005
    Location
    Cramped island
    Posts
    5,585
    Quote Originally Posted by Paxbritannia:
    Pay EUR 500m to receive USD $1 in return? Why not just wind the thing up then?
    cost more because of the collective labor strength ?