Banks consolidate as Chinese broker acquires in HK

Author: | Published: 26 Nov 2009

Consolidation in Greater China’s financial sector picked up this week as Haitong Securities became the first mainland broker to announce an acquisition of a Hong Kong-listed securities firm.

Haitong’s HK$1.82 billion ($234 million) offer for 52.86% of Taifook Securities through its Hong Kong-incorporated subsidiary (Haitong Financial)...