2023-07-11 21:55:12
The Competition Bureau and the Office of the Superintendent of Financial Institutions are reviewing the transaction. (Photo: 123RF)
The federal government is giving Canadians more time to submit their thoughts on Royal Bank of Canada’s deal to buy HSBC Bank Canada.
Ottawa extended the consultation period by 15 days, until July 21, following technical difficulties prevented the Ministry of Finance from receiving the content of certain submissions sent by email.
Technical issues have been resolved, the government said.
Royal Bank announced in November 2022 an agreement to buy HSBC Bank Canada for $13.5 billion in cash.
The Competition Bureau and the Office of the Superintendent of Financial Institutions are also reviewing the transaction, which requires the approval of the Minister of Finance.
The Department of Finance’s public consultations are separate from the Competition Bureau’s public request for information.
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