HSBC Sells Their Part of IBC
HSBC said on Friday, July 27, it had sold its 19 percent stake in iBusinessCorporation.com Holdings Ltd to Cheung Kong (Holdings) Ltd for HK$6.98 million ($895,000). iBC.com is a joint venture company established by four parties in early 2000 to facilite e-commerce on the Internet.
“This won’t be the last sale for HSBC” said analysts at Household - HSBC Watch, a US based consumer advocacy and watchdog organization.
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