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Reuters: British HSBC bank in talks to sell its Russian lending unit

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London-based HSBC Holdings is in talks to sell its Russian unit to local lender Expobank, Reuters reports citing a source with knowledge of the matter. HSBC's corporate lending business employed around 200 people on the eve of the Feb. 24 invasion, according to HSBC's Chief Financial Officer Ewen Stevenson.

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"This agreement will help ensure Ukraine gets the support it needs to defend itself against Russian aggression, while backing British defense companies, supporting skilled jobs and strengthening our national security," said British Prime Minister Keir Starmer on July 13.

The listings include the company VK, which owns the social media website VKontakte, its daughter company Communication Platform LLC, which developed Max, and the latter's head, Elena Bagudina.

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