FinanceAsia Will the consolidation in Hong Kong be between the Hong Kong banks themselves or will it be from SingaporeanAustralian banks
Keith Irving The first thing to say is that we are not bulls on the mega-consolidation wave in Hong Kong. We've had that opinion for some time. In the first instance, the franchises that remain available to potential foreign buyers are probably less attractive than the ones that have already gone. Basically the remaining large players, Hang Seng and Bank of East Asia seem unlikely to be available to a foreign majority owner. And with the smaller banks, you still have significant levels of entrenched family ownership. The fact that we...
