Deals
Hong Kong Turmoil Hurts $3 Billion Fubon Bank Unit Sale
- Talks slow as protests undermine the unit’s valuation
- Fubon and potential bidders remain interested in reaching deal
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Taiwan’s Fubon Financial Holding Co.’s plan to sell its Hong Kong banking business is stalling as protests in the city hamper talks and undermine the unit’s valuation, according to people with knowledge of the matter.
Negotiations with potential buyers, mostly from mainland China, have slowed in recent months and it will probably take longer to reach a deal, the people said, asking not to be named because the talks are confidential. Twenty-one straight weekends of protests are giving companies pause on potential investments in Hong Kong, the people said.