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HSBC Buys SVB’s UK Unit for £1 in Reprieve for Tech Sector

HSBC Holdings Plc is buying the UK arm of Silicon Valley Bank for £1. The deal completes immediately and will be funded from existing resources.

1 min read
  • HSBC Holdings Plc is buying the UK arm of Silicon Valley Bank for £1.
  • The deal completes immediately and will be funded from existing resources.
HSBC Buys SVB’s UK Unit for £1 in Reprieve for Tech Sector
HSBC Holdings Plc is buying the UK arm of Silicon Valley Bank, the culmination of a frantic weekend where ministers and bankers explored various ways to avert the SVB unit’s collapse.
BloombergHarry Wilson

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