Oct 9 (Reuters) - HSBC shares fell 6% in London from near record levels after the British bank announced plans to buy out minorities in its majority-held Hang Seng Bank subsidiary in a deal worth around $13.6 billion.
"While strategic rationale is compelling, and this seems a sensible overall use of capital, we expect investors will query why now and at this price," Citi analyst Andrew Coombs wrote.
Hang Seng Bank has come under fire for its performance and exposure to property markets in Hong Kong and mainland China.
HSBC was the biggest faller on the FTSE 100 in early morning and set for its largest one-day drop since early April. The stock is still up over 25% so far in 2025.
Reporting by Danilo Masoni; Editing by Amanda Cooper
Source: Reuters