Sale of HSBC French branches to yield 1.1 billion pounds gain
PARIS (Reuters) - HSBC's (HSBA.L) sale of its seven French regional banking subsidiaries to Banque Federale des Banques Populaires will result in a capital gain of 1.5 billion euros (1.1 billion pounds), an HSBC official said on Monday.
HSBC said last week it had entered into exclusive talks with Banque Populaires for the sale of the 400 branches.
(Reporting by Yann Le Guernigou, Dominique Vidalon)
© Thomson Reuters 2009 All rights reserved.
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