We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Royal Bank of Canada | NYSE:RY | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.12 | 0.12% | 103.21 | 104.08 | 103.18 | 103.48 | 540,065 | 01:00:00 |
By Paul Vieira
OTTAWA--Canada's antitrust watchdog said Royal Bank of Canada's proposed $10.1 billion deal for HSBC Holdings' Canadian unit is unlikely to deter competition in the banking sector.
The watchdog's finding was in a report issued Friday. The Competition Bureau said its analysis will now go to the office of Canada's finance minister, Chrystia Freeland. She will have final say on whether the deal can proceed.
The deal, unveiled in November, would combine Canada's largest and seventh-biggest banks, based on a measure of total assets.
"While certain evidence indicated that HSBC Canada was a vigorous competitor and a material rival to Royal Bank in the offer of particular financial services, the bureau found that HSBC Canada's competitive impact was limited when compared to other financial institutions," the antitrust agency said.
The bureau said the proposed deal is unlikely to result in a marked reduction or prevention of competition in the banking sector.
Dave McKay, RBC's chief executive, has previously said the bank isn't aware of any concerns that regulators could raise with the transaction.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
September 01, 2023 09:16 ET (13:16 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year Royal Bank of Canada Chart |
1 Month Royal Bank of Canada Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions