Japan's SMBC plans to buy controlling stake in Yes Bank: Report

Japan's Sumitomo Mitsui Banking Corporation (SMBC) has reportedly reopened talks to acquire a controlling stake in Yes Bank. SMBC could buy up to a 20% stake from SBI and launch an open offer to increase its stake to 51%, Moneycontrol reported. Banks, including Axis Bank and HDFC Bank, could sell their stakes in Yes Bank via the open offer.