HSBC to offload French retail banking business to My Money Group
HSBC Continental Europe (formerly HSBC France) will divest its French retail banking business to Cerberus Capital Management-controlled My Money Group for a nominal price of €1, leading to a pre-tax loss of around €1.9 billion. In this connection, the HSBC subsidiary has signed a memorandum of understanding (MOU) with Promontoria MMB SAS (My Money Group), […]