Charoen Pokphand insists it has funds to buy HSBC stake in Ping An

Thailand's Charoen Pokphand Group yesterday issued a statement reaffirming that it had the means to acquire HSBC's US$9.4 billion stake in Ping An Insurance, in a bid to scotch reports that the deal was unravelling.

"The transaction is still under consideration by the China Insurance Regulatory Commission (CIRC) and we confirm that if approval is received from the CIRC, the CP Group has the necessary resources to complete the transaction," said the statement e-mailed to the South China Morning Post yesterday.

via Business feed http://www.scmp.com/news/article/1125935/charoen-pokphand-insists-it-has-funds-buy-hsbc-stake-ping