HSBC in talks to sell French retail banking to Cerberus, says report

HSBC has entered final negotiations to sell its French retail banking business to private equity firm Cerberus, a source familiar with the matter said on Wednesday.
 

The planned disposal is part of HSBC Chief Executive Noel Quinn's strategy to slash costs across the banking group and Reuters previously reported that Cerberus was among two remaining bidders.
 

The talks are conditional on price and terms and may not necessarily result in a sale, the source told Reuters.
 

A spokeswoman for HSBC declined to comment, while Cerberus could not immediately be reached for comment.
 

HSBC is working with Lazard to sell its