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HSBC HOLDINGS Restructuring Reignites Shareholders' Break-up Debate: Wire
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HSBC HOLDINGS (00005.HK) CEO Georges Elhedery's business restructuring plan has once again sparked discussions about a potential group split, the Financial Times reported. Although HSBC HOLDINGS emphasized that its strategic priorities remain unchanged, the restructuring has immediately drawn comparisons to the demand made by PING AN (02318.HK) two years ago to spin off its Asian business, according to the report. The report quoted a long-term shareholder saying that HSBC HOLDINGS's structure separates its Asian and Western businesses, providing the group with more options in case of a partial business separation or if a dire situation arises in its China operations. The report also cited HSBC HOLDINGS executives stating that the new business structure significantly differs from PING AN's proposal to split the Asian business as the Eastern market will cover more regions. In addition, the Middle East market is currently included in the Eastern market operations to help establish local connections with businesses in China, India, and Southeast Asia. AAStocks Financial News |
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