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-0.0210021498263601 -0.0210021498263601 -0.0210021498263601 -0.0133950719364974 0 0.00545725152968423 -0.013725814453448 -0.00165371258475268
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Mitsubishi UFJ (MUFG) Talks for HDBF Stake Hit a Road Block [Yahoo! Finance]

The Bank of New York Mellon Corporation (BK) 
Last the bank of new york mellon corporation earnings: 4/16 06:30 am Check Earnings Report
Company Research Source: Yahoo! Finance
unit – HDB Financial Services (HDBF). The news is reported by Bloomberg citing people familiar with the matter. As per the source, the negotiations for a minority stake in the HDFC's consumer lending unit have stalled. This is because of the discrepancy in the degree of influence that MUFG will have over the Indian lender's strategy. Although MUFG remains keen on buying a stake in HDB Financial Services, the discussion may suffer further delays or fall apart. Insiders privy to the matter stated that HDFC Bank could seek an initial public offering (IPO) of the consumer lending unit as an alternative. No final decision has been taken and negotiations could resume if MUFG is given a strong influence on HDBF's business plan. Moreover, people familiar with the matter stated that there is a possibility of MUFG offering HDBF more favorable terms to finalize the agreement. MUFG has been aiming to expand its foothold in India, where HDBF provides personal, gold, and auto loans. Of la Show less Read more
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