HONG KONG - HSBC Holdings Plc is in advanced discussions to acquire the banking assets of Royal Bank of Scotland in three Asian countries, the Wall Street Journal online reported on Wednesday.
The discussions concern RBS's retail and commercial banking assets in China, India and Malaysia, according to the report, which cited a person familiar with the situation.
An HSBC spokeswoman had no immediate comment.
According to the source, HSBC emerged as the leading bidder after exclusive talks between RBS and Standard Chartered stalled over price.
RBS is in ongoing discussions with bidders for the remaining assets it has decided to sell in Asia and will make further announcements, as appropriate, a RBS spokeswoman said in an email reply to Reuters.
On Sunday Reuters reported that Standard Chartered's talks to buy the assets had collapsed over differences on valuation. One person familiar with the matter said that Standard Chartered has been willing to pay about $200 million for the assets, but that RBS had wanted more.
(Reporting by Don Durfee; editing by Elaine Hardcastle)