HSBC sign
Media playback is unsupported on your device

HSBC in talks to buy 70% of South Africa's Nedbank

The banking giant HSBC is in exclusive talks to buy a controlling stake in South Africa's Nedbank.

The deal could be worth some 49.9bn rand ($6.8bn; £4.4bn) and would give Europe's largest lender a presence in Africa's largest economy and a gateway to the fast-growing continent.

Julia Caesar explains.

  • 23 Aug 2010
Go to next video: RBS half-year profits hit £1.1bn