January 10, 2013 / 8:31 AM / 5 years ago

China regulator says seeking more information on HSBC-Ping An deal

SHANGHAI, Jan 10 (Reuters) - China’s insurance regulator said on Thursday it has conducted a preliminary review of HSBC Holdings Plc’s planned sale of its $9.4 billion stake in Ping An Insurance to Thailand’s CP Group and is seeking more information from the Chinese insurer.

The China Insurance Regulatory Commission (CIRC) made the comments in an emailed statement to Reuters.

On Wednesday, the South China Morning Post and The Wall Street Journal reported that the CIRC was likely to veto the deal due to a lack of funding.

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