Saturday, Jul 03, 2010
This is where tax payers money is wasted!!!
Telegraph: RBS 'pays' HSBC to take its Indian busines off its hands
However, the majority of any losses made by the business will be covered by RBS, meaning it could end up in effect paying HSBC to buy the unit.
RBS will bear 90pc of any losses made in India in the next two years
Posted by mark @ 12:17 PM (476 views) Add Comment
1 Comment
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1. tenyearstogetmymoneyback said...
And where is the incentive for HSBC to not make huge losses in India.
It reminds me of the infamous 3G phone auctions where companies were bidding in the hope of making their rivals overpay but would have been horrified had they actually won the auction themselves.