HSBC's French retail subsidiary is currently the subject of a final round of negotiations which could see the bank sold for the symbolic value of just €1, according to reports. Reuters reported last night that one un-named interested party has stipulated the British bank must first inject more than €500m into the struggling business before any deal is completed. Accountants Lazard are advising HSBC on the process of selling HSBC France, which consists of around 270 branches and a staff of around 10,000. One of the two buyers believed to remain at the table is Cerberus, an American...
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