The Traderszone Network

Published in TZ Latest News 2 July, 2015 by The TZ Newswire Staff

Exclusive: ING on course to win auction for HSBC’s Turkish bank – sources

ISTANBUL/LONDON (Reuters) – Dutch lender ING Group (ING.AS) is set to win the auction to buy HSBC’s (HSBA.L) Turkish business, people familiar with the matter said on Thursday. Four people familiar with the situation said HSBC had narrowed the field to one suitor, with two of the sources identifying ING as the preferred buyer, though a deal has yet to be finalised. ING, which already has a presence in Turkey, was one of three banks to submit a non-binding bid in May, sources previously told Reuters.