RBC, HSBC deal not likely to result in substantial lessening of competition, Canada's Competition Bureau finds
( September 1, 2023, 22:28 GMT | Official Statement) -- MLex Summary: RBC's acquisition of HSBC is not likely to result in a substantial lessening of competition and therefore does not violate Canada's Competition Act, a report from the Canadian Competition Bureau found. The Bureau did note, however, that it "would result in a loss of rivalry between Canada's largest and seventh largest banks." All banking mergers in Canada are subject to approval of the Minister of Finance. Statement follows in full. ...
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