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SMFG’s greater presence in the Hong Kong bank makes M&A less likely and dilutes other shareholders.

Megabank targets Chinese clients by upping its stake in Bank of East Asia. The deal looks reasonably priced at about ¥100 billion or about 1.2 times book.

The Japanese megabank furthers its Asian expansion by buying 12.25% of Cambodia’s Acleda for over Y10b. Acleda’s CEO speaks to FinanceAsia.

The world’s biggest international creditors have lent to firms ranging from China’s Alibaba to Australian miners and are scouting for US and Asian acquisitions.