There is no preferred offeror to take over HSBC’s local operation, and the process is still in an early stage, the bank said in a statement on the Stock Exchange.
The statement made reference to a decision taken by shareholders at an extraordinary general meeting in February. The bank had been authorised to furnish confidential information to offerors “to make, confirm, withdraw or modify any offer(s) for a substantial shareholding.”
The bank said it had signed a confidentiality agreement with its biggest shareholder, HSBC Continental Europe. It is also in the process of signing confidentiality agreements with a number of prospective offerors and will be handing them confidential information.
“The Bank has been informed by HSBC Holdings plc that there is no preferred offeror and that the process remains at an early stage,” it said.
“HSBC Holdings plc has confirmed that it remains committed to supporting the Bank, its customers and its employees throughout this process,” it said.
Last November it had been reported that APS Bank, with the Church of Malta as the biggest shareholder, was in advanced negotiations to buy HSBC Malta.