Finance Department plans public consultations on RBC deal to acquire HSBC Canada

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Federal department says it is seeking feedback on whether the deal is in the best interest of Cnaada’s financial sector

A bank merger of this size in Canada has not surfaced in more than two decades since the federal government squashed two major combinations in the sector.

In response to questions during a call with reporters when the deal was announced, RBC chief executive officer Dave McKay said he would not be willing to divest some of HSBC Canada’s assets to win approval.

 

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