Capital One bids for HSBC's U.S. credit card biz: report

Wed Jun 15, 2011 8:40pm EDT

(Reuters) - Capital One Financial Corp (COF.N) has made an early bid for HSBC Holdings PLC's (HSBA.L) U.S. credit card business, the Wall Street Journal reported, citing people familiar with the matter.

The bank and credit card lender is out in front to buy ING Direct USA, ING Group NV's (ING.AS) (ING.N) U.S. online bank, the Journal reported.

The first round of bids for HSBC's credit card portfolio was due last week, the paper said, adding that details about the deal were unclear.

Representatives for HSBC and Capital One were not available for comment outside of regular business hours.

(Reporting by Abhiram Nandakumar in Bangalore; Editing by Gary Hill)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.