HONG KONG -- HSBC Holdings Ltd. said its holdings of the shares of Midland Bank PLC had reached 91.27% of the total as of Thursday afternoon London time, making the $7 billion takeover of the British bank virtually complete.

Having topped 90%, HSBC could seek compulsory tendering of the remaining shares.

HSBC, the parent of Hongkong and Shanghai Banking Corp., said it had acquired 72.21% of Midland's issued capital. HSBC and its subsidiaries previously held another 19.06%.

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