Royal Bank of Scotland Group PLC's effort to complete the sale of its Asian assets has hit some snags that could mean a smaller price than the U.K.-controlled bank has expected, according to people familiar with the matter.

The problems involve talks with the U.K. bank Standard Chartered PLC over commercial and retail businesses in China and India.

A main reason for the delay, according to a person close to the talks, is that Standard Chartered had concerns about what would be included in the China businesses. Chinese banking regulators also may be slowing the deal as a result of Standard Chartered's role in a controversy that erupted in Hong Kong involving the sale of "mini-bonds" by banks, including Standard Chartered, one of the people said.

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