Ottawa extends consultation period for RBC–HSBC deal after technical difficulties

By The Canadian Press | July 11, 2023 | Last updated on July 11, 2023
1 min read

The federal government is giving more time for Canadians to submit their thoughts on the Royal Bank of Canada’s deal to buy HSBC Bank Canada.

Ottawa extended the consultation period by 15 days to July 21 after technical difficulties prevented the Finance Department from receiving the content of some submissions sent by email.

It says the technical issues have been resolved.

RBC announced a deal in November 2022 to buy HSBC Bank Canada for $13.5 billion in cash.

Both the Competition Bureau and the Office of the Superintendent of Financial Institutions are also reviewing the transaction, which requires approval from the minister of finance.

The public consultations by the Finance Department are separate from the public request for information issued by the Competition Bureau.

The Canadian Press logo

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.