HONG KONG/BIRMINGHAM, U.K. -- HSBC Group on Friday avoided having to break up as the majority of voting shareholders went against a resolution endorsed by its largest stakeholder, China's Ping An Group.
Finance
HSBC wins shareholder battle to foil spinoff of Asia business
Majority of shareholder votes oppose resolution endorsed by Ping An Group
Top Chinese shareholders and a group of Hong Kong retail investors supported the spinoff resolution, citing geopolitical concerns and financial underperformance. © Reuters
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