M&A bankers hopeful despite China's market woe

Bank of China (Hong Kong)'s sale of Nanyang Commercial Bank attracted only one bidder while Tesco's sale of Homeplus is still in the works.

China's wild stock market ride and shredded investor confidence will not necessarily kill off deal-making but the road ahead could be tougher for new mergers and acquisitions.

The Shanghai Composite Index plunged by 8.5% on Monday and continued to fall further on Tuesday and Wednesday, rocking financial markets around the world, before rising 5.3% on Thursday. The benchmark is some 40% below its June 12 peak but still 40% higher than it's 52-week low.

Corporate chieftains need confidence in markets to forge ahead with major acquisition plans. While deal-makers contacted by FinanceAsia said they haven't seen any deals pulled, the market volatility appeared to dampen...

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