MUFG’s talks for minority stake in HDB Financial said to be stalling
Mitsubishi UFJ Financial Group Inc.’s negotiations for a minority stake in HDFC Bank Ltd.’s consumer lending unit are stalling due to differences over how much say it will have in company strategy. While MUFG is still interested in HDB Financial Services Ltd., the talks may face further delays or even fall apart
MUFG has been seeking to build its presence in India, where HDBF offers services such as personal, gold and auto loans. Bloomberg News reported earlier this year that MUFG, Japan’s biggest lender, was in talks for a 20% stake for about $1.7 billion. MUFG has considered sweetening its offer.
