Could you describe the state of the deal with HSBC?
These are very early days, and there are a number of regulatory hurdles to jump. There is also a period of due diligence granted by Old Mutual, our majority shareholder, to HSBC. We will be working with HSBC directly to understand their strategies.
What are HSBC’s strategies in approaching Nedbank?
There are two key mega trends determining HSBC’s approach. First, emerging markets are growing faster than developed markets, so interest will grow in South Africa and the rest of Africa.
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