The Hinduja Group, controlled by the Hinduja family, has had its plan to acquire the banking unit of KBC Group blocked by Belgian regulators.
This was announced by KBC Group but no reason was given as to why the deal was blocked. When contacted, a spokesperson for the Hinduja Group said they were waiting for an official notification from the regulators and refused to comment. However, there is much press speculation that the deal did not go through due to a lack of transparency in the Hinduja Group’s financial statements.
