Deal for HSBC's Ping An stake set to be rejected

Mainland regulators are poised to reject a US$9.4 billion bid by a Thai conglomerate to purchase HSBC's entire stake in Ping An Insurance.

The refusal by the China Insurance Regulatory Commission (CIRC) is expected because of concerns about the funding for the bid and the identity of the real buyer. If the deal collapses, it would be a huge disappointment for HSBC.

via Business feed http://www.scmp.com/news/article/1123361/deal-hsbcs-ping-stake-set-be-rejected