ING Groep NV, the largest Dutch financial services company, has abandoned a plan to acquire HSBC Holdings Plc's unprofitable Turkish unit, Bloomberg reported on Wednesday.
Regulatory hurdles contributed to the decision, Bloomberg reported, citing two people with knowledge of the matter.
HSBC was not immediately available to comment, while ING declined to comment.
Reuters, citing sources, reported last month that Turkey's Fibabanka has joined the ranks of banks interested in buying the Turkish unit.
Sources told Reuters late in August that HSBC was dragging its feet on the sale of its Turkish business to ING as the bank is no longer in a hurry to exit Turkey after securing a hefty $5.2 billion for its Brazilian unit.
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Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University
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