HSBC plans to double stake in Vietnam's Techcombank to 20 pct for 71.5 mln usd |
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Published
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Thu, 25 Jan 2007 14:30
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LONDON (AFX) - HSBC Holdings PLC said it has agreed a deal to pay 71.5 mln usd to double its stake in the Vietnam Technological and Commercial Joint-Stock Bank (Techcombank) to 20 pct.However, HSBC said the deal can only go through once Vietnam raises the cap on foreign ownership.HSBC said it acquired an initial 10 pct holding in Techcombank in December 2005, which at the time was the largest stake a foreign institution could own in a Vietnamese bank.newsdesk@afxnews.comfaj/wjCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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