this post was submitted on 21 Oct 2023
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Pierre Poilievre said the loss of British-owned HSBC's Canadian division will exacerbate issues in Canada's banking sector, which he said is already overly concentrated.

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[โ€“] xmunk@sh.itjust.works 21 points 1 year ago (3 children)

He's not wrong. I have no idea why it's PP objecting to this since he has backed corporate consolidation in the past but hey... good on him for opposing this awful merger.

[โ€“] Thrillhouse@lemmy.world 20 points 1 year ago

Probably because he has something to gain personally.

[โ€“] sik0fewl@kbin.social 8 points 1 year ago

Ya, I agree, except HSBC is exiting Canada, so one of the big banks pretty much has to buy them. Unless someone else wants to move in.

[โ€“] sik0fewl@kbin.social 6 points 1 year ago

To give him some credit (I did some digging), he spoke out against the Rogers-Shaw merger as well. Well, sorta - it wasn't very strongly worded, but he did point towards a Conservative policy of having at least 4 competitors in every industry.