MOSCOW, March 1 (Reuters) - A Russian government
commission on foreign investments has received an application
for the sale of London-based lender HSBC's subsidiary
in Russia, the TASS news agency quoted Deputy Finance Minister
Alexei Moiseev as saying on Wednesday.
Europe's biggest bank has taken a $300 million loss on the
expected sale of the business, a deal that HSBC expects to
complete in the first half of 2023. The deal is still pending
regulatory approval.
(Reporting by Caleb Davis and Alexander Marrow, Editing by
Angus MacSwan)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.