Competition Bureau approves RBC's proposed takeover of HSBC Canada

[ourkid8]

https://ca.finance.yahoo.com/news/competition-bureau-approves-rbcs-proposed-132741172.html

 

The bureau said Friday that its review found the deal won't likely significantly lessen competition, even though it means Canada's largest bank is poised to take over the seventh largest by assets.

 

It’s pretty funny when the largest bank is buying the 7th largest competitor and that won’t significantly lessen competition   

This is a massive acquisition for the bank and will continue to strengthen its #1 position in the Canadian market.  
 

 

[Xerxes]

I am very happy about this. 
 

if IIRC this will allow current RBC Direct Investing to be able to buy global securities (in foreign denominated currencies) and vis versa allow HSBC Canada clientele to benefit from RBC distribution and network. 

[50centdollars]

Canada's Competition Bureau is a joke. I don't understand the point of them. They approve everything. 

[Spooky]

On 9/2/2023 at 1:35 AM, 50centdollars said:

Canada's Competition Bureau is a joke. I don't understand the point of them. They approve everything. 

 

Totally agree. They allowed the Rogers and Shaw merger to go through and the Telco space in Canada was already completely anti-competitive.