HSBC Sale of Canada Unit to RBC Is Opposed by Conservatives (2)

The leader of Canada’s main opposition political party says the government should block HSBC Holdings Plc’s sale of its local operations to Royal Bank of Canada.

Royal Bank struck an agreement last year to buy HSBC Canada for C$13.5 billion ($9.9 billion), and Finance Minister Chrystia Freeland is expected to make a decision in the coming months, with the banks setting a goal of closing the deal in early 2024. Conservative Party Leader Pierre Poilievre said she should reject it to protect competition in mortgage lending.

“We have far too much concentration. We have these monstrous, government-protected behemoths that ...