Brazilian unit
ING 'drops plan to buy HSBC's Turkish unit'
ING Groep NV, the largest Dutch financial services company, has abandoned a plan to acquire HSBC Holdings Plc's unprofitable Turkish unit, Bloomberg reported on Dec. 16.
Regulatory hurdles contributed to the decision, Bloomberg reported, citing two people with knowledge of the matter.
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Emboldened by $5.2 bln Brazil deal, HSBC 'drags feet in Turkey'
HSBC is dragging its feet on the sale of its Turkish business to ING Group, two sources familiar with the matter said, as the bank is no longer in a hurry to exit Turkey after securing a hefty $5.2 billion for its Brazilian unit.