HSBC says it may sell Vietnam insurance business | Reuters | The Truth Behind the Headlines | Scoop.it
LONDON (Reuters) - HSBC Holdings said on Thursday it is considering a sale of its Vietnam insurance business in a deal which could fetch about $400 million for Europe's biggest...

 

I'm not sure if this is another example of the large banking concerns' need to raise capital in the face of deflating core assets deteriminig the future course of their business or the danger of investing in a frontier market as convoluted as Vietnam can be. 

 

Wither way HSBC is going to need the cash to deal with the regulatory and litigation costs they are straing at in light of LIBOR-Gate and the current money-laundering investigation in the U.S.

 

If Sumitomo wins this business it will be another small example of the power of the strong Yen to allow Japanese multinationals to buy up distressed assets and/or invest in the future of who will become a major trading partner for them in the near future.