Canadian regulators to review sale of HSBC's Canada business to RBC
Canadian regulators will review the sale of HSBC's business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, the Canadian government's finance department said on Tuesday.
"The Office of the Superintendent of Financial Institutions (OSFI) will administer the application process and provide a recommendation to the Minister of Finance. The Competition Bureau, under the Competition Act, will also review the transaction," the department said in a statement.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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