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British chutzpah

14 November 2002 By Rob Cox

The price, at 1.6 times book value, looks relatively good for HSBC shareholders. By contrast, Citi paid 3 times book for Associates. At 7.2 times estimated 2002 eps, the deal also compares favourably. HSBC may be striking at the right time of the credit cycle.

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British chutzpah

14 November 2002 By Rob Cox

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