Deals
HSBC Says It’s in Talks to Sell U.S. Card, Retail Business
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HSBC Holdings Plc is in talks to sell its U.S. card and retail services unit as it pares North American operations to focus on faster-growing emerging markets and retail banking in the U.K.
“These discussions are ongoing and no decision has yet been made to proceed with any transaction,” the London-based bank said in a filing today. Capital One Financial Corp. is in advanced talks to purchase the credit-card portfolio, a person familiar with the discussions said yesterday.