SMFG Said to Have No Immediate Plan to Take Over Jefferies

Sumitomo Mitsui Financial Group Inc. has no immediate plan to take over Jefferies Financial Group Inc., according to people with direct knowledge of the matter, after a media report of a potential deal.

Japan’s second-biggest lender isn’t engaged in such talks with the Wall Street lender, the people said, asking not to be identified discussing private information. Executives at SMFG are conscious of various obstacles to any moves to further integrate Jefferies, including regulatory hurdles, they said.

The Financial Times, citing people it didn’t name, reported earlier that the Tokyo-based bank is working on plans ...