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

OTTAWA –

The federal authorities is giving extra time for Canadians to submit their ideas on the Royal Bank of Canada’s deal to purchase HSBC Bank Canada.

Ottawa prolonged the session interval by 15 days to July 21 after technical difficulties prevented the Finance Department from receiving the content material of some submissions despatched by electronic mail.

It says the technical points have been resolved.

RBC introduced a deal in November 2022 to purchase HSBC Bank Canada for $13.5 billion in money.

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

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

This report by The Canadian Press was first printed July 11, 2023.