Bloomberg News

Dexia Unit Denizbank Slides After Report HSBC Won’t Bid

January 09, 2012

Jan. 9 (Bloomberg) -- Denizbank AS, the unit of Dexia SA, declined in Istanbul after Sky News reported that HSBC Holdings Plc told a Turkish regulator it withdrew its interest in buying the bank.

Denizbank fell 7.3 percent to 11.50 liras at 2:41 p.m., the biggest decline since Dec. 12. The drop values Denizbank at 8.2 billion liras ($4.4 billion), according to its current share price.

Owners had not been willing to provide HSBC with enough detailed information about Denizbank, Sky said, citing unidentified people close to the situation.

To contact the reporter on this story: Mark Bentley in Istanbul at mbentley3@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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