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Dec
A HSBC logo is seen above the entrance to a HSBC bank branch in midtown Manhattan in New York City, December 11, 2012. REUTERS/Mike Segar

A HSBC logo is seen above the entrance to a HSBC bank branch in midtown Manhattan in New York City, December 11, 2012.

Credit: Reuters/Mike Segar

TOKYO | Tue Dec 18, 2012 5:36am GMT

TOKYO (Reuters) - Japan’s Sumitomo Life Insurance Co is close to agreeing to buy HSBC Holding’s 18 percent stake in its Vietnam insurance business for about 30 billion yen $360 million (222 million pounds), a source familiar with the matter said on Tuesday.

Sumitomo Life, one of Japan’s top four life insurers, and HSBC are likely to agree on the deal by the end of this week, said the source, who declined to be named.

A Sumitomo Life spokesman declined to comment.

(Reporting by Taiga Uranaka and Mayumi Negishi)

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