Brazil watchdog's ruling on HSBC unit sale seen as key to dividend payout

London

BRAZIL'S antitrust watchdog Cade is due to reveal on Wednesday whether HSBC Holdings Plc can sell its Brazilian unit to Banco Bradesco SA, a decision with big implications for the British bank's chief executive officer Stuart Gulliver and shareholders.

Mr Gulliver is counting on the US$5.2 billion sale of HSBC Bank Brasil Banco Múltiplo SA to boost HSBC's main capital ratio and ensure the bank remains the biggest dividend payer among European banks.