HSBC Holdings and the labour union of Korea Exchange Bank (KEB) have entered into an agreement, according to which the UK bank has pledged to keep KEB listed on the Korean Exchange if the deal goes through.
HSBC’s latest agreement with the labour union is an attempt to assuage concerns that it seeks to take the bank private; and could also be seen as an attempt to persuade regulators to approve the deal by providing some clarity on its post-acquisition plans for KEB.
