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HSBC Loses $2.3 Billion On French Bank Sale

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pymnts
pymnts
 2021-06-18
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The British bank HSBC said Friday it has agreed to sell its French retail bank to the Cerebus-backed My Money Group at a loss of $2.3 billion. According to Reuters, the sale has a silver lining for HSBC, allowing it to “end its long struggle to dispose of the business as it focuses on Asia.”

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