RBS Considers Sale of Asian Banking Unit

HONG KONG (Reuters) – Royal Bank of Scotland (RBS.L) has hired Morgan Stanley (MS.N) to explore the sale of its Asian banking units, sources with direct knowledge of the matter told Reuters on Friday.

The move comes after the UK government took a 70 percent stake in the bank, forcing RBS into seeking sales of various assets across the globe.

RBS and Morgan Stanley declined to comment. (Reporting by Michael Flaherty, Editing by Tony Munroe)