David Buik Comments: HSBC's £4bn Nedbank swoop - The Sun UK Online

Britain's most profit-able bank plans to join the global shopping spree - by splashing out £4.4BILLION in South Africa. HSBC is making a foray into the land of diamond giant De Beers in a bid to buy a controlling stake in NEDBANK, currently owned by insurer Old Mutual.

The group said yesterday: 'We've entered into exclusive discussions.' It follows merger mania among the world's biggest firms, with nearly £110million spent on deals this month.

Just yesterday experts claimed Pilsner-brewer SAB MILLER and Japan's ASAHI were eyeing iconic Aussie firm FOSTER'S for £7billion, while US giant CAMPBELLS is considering a move for McVitie's maker UNITED BISCUITS.

David Buik, analyst at BGC PARTNERS, said: 'Companies sitting on a lot of cash are seeing others they believe are under-valued. They're only going to get a few opportunities like this to grow.' HSBC, headed by chief executive Michael Geoghegan, right, said the Nedbank deal had still some way to go. But a takeover would give HSBC a foothold in a Continent central to ambitions of many corporate clients in China - where it is the biggest international bank.

Ralph Silva, banking expert at SRN, said: 'This is all about HSBC going out and supporting the biggest companies in Asia who want to buy up natural resources in Africa.' Vast orders at the bar THE tycoon behind the Yates's pub chain is in talks about creating Britain's second biggest collection of high-street boozers. Ian Payne, chairman of TOWN & CITY PUB COMPANY, plans to team up with private equity group TDR CAPITAL. TDR snapped up 333 pubs - including student brand Scream - from MITCHELLS & BUTLERS last week.

Mr Payne wants to put the 150 he owns into the group. A merger would give TDR control of nearly 500 high street pubs - behind JD WETHERSPOON. Mr Payne told Sun City: 'TDR are good guys with very clear plans. 'Everybody's talking about the consolidation that needs to happen but until now nobody's been able to do it.' Mr Payne was last night negotiating with COMMERZBANK and KAUPTHING - the banks that control Town & City. Experts say they are keen on the merger.

He also wants to prise Slug & Lettuce from BAY RESTAURANT GROUP.

He claimed the merged business could end up owning 1,000 sites.

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