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<a href="http://www.accessmylibrary.com/coms2/summary_0286-20079420_ITM" title="Facts and information about HSBC-UTI BANK DEAL: AN UNLIKELY PREDATOR SCORES (HSBC acquires 14.7% stake in UTI Bank).">HSBC-UTI BANK DEAL: AN UNLIKELY PREDATOR SCORES (HSBC acquires 14.7% stake in UTI Bank).</a>
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HSBC-UTI BANK DEAL: AN UNLIKELY PREDATOR SCORES (HSBC acquires 14.7% stake in UTI Bank).
(From India Business Insight)
HSBC has acquired 14.7 percent stake in UTI Bank, amidst stiff competition for the stake.
The stake was put on sale as CDC Capital Partners, who had acquired 28 percent stake in UTI Bank in 2001, was supposed to exit the bank by Dec 2003. HDFC, Citibank and Tatas were keen on buying the stake in UTI Bank. However, UTI Bank decided to bring in HSBC on board, as the latter received approval from the Reserve Bank of India (RBI) and UTI Chief Executive. HSBC offered Rs90 per share for the UTI stake, sans ...
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