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HSBC shareholders reject Chinese insurer Ping An's split proposal at annual meet

HSBC on Friday wins battle by defeating a plan that attempted to divide the bank in an effort to increase profits. The plan was supported by its largest shareholder, the Chinese insurer Ping An who has been trying for over a year to split the bank. Ping An was unable to secure the support of any significant shareholders after investors decided to reject the idea. The outcome, according to HSBC chairman Mark Tucker, "draws a line" under a protracted discussion concerning the bank's...
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