Published Date:
20 October 2008
INSURANCE major Prudential yesterday stonewalled rising speculation that it is in advanced talks with two strategic investors to take a stake of up to 20 per cent in the company.
It is said the funds raised would help mount an £8.6 billion bid for the Asian business of AIG, the insurance giant bailed out by the US taxpayer. The Pru is thought to be being advised by UBS and Credit Suisse, which is negotiating with investment funds in the Middle East and China. A spokesman for Prudential declined to comment.
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Last Updated:
19 October 2008 8:55 PM
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Source:
The Scotsman
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Location:
Edinburgh
