Lion Finance looking into potential bid for HSBC Malta

(Sharecast News) - Lion Finance Group confirmed on Thursday that it is participating in the sale process for HSBC's operations in Malta, following recent media speculation about a potential bid. In a brief statement, the FTSE 250 company said it was engaged in a process regarding the proposed sale by HSBC Continental Europe of its stake in HSBC Malta.

However, the Georgia-focussed firm stressed that there was no certainty that a deal would be concluded.

"There can be no certainty that any agreement will be reached in relation to the possible acquisition by the company of HSBC's stake," Lion Finance said.

The company added that it would update the market in due course.

At 1012 BST, shares in Lion Finance Group were up 0.19% at 7,755p.

Reporting by Josh White for Sharecast.com.