Resolution in talks over Abbey life business - papers 4th May

According to the paper, the talks are at an early stage but if the move goes ahead, it would see Resolution virtually double in size and propel the company into the FTSE 100 index. Negotiations between Abbey's owner, Banco Santander Central Hispano, and Resolution are on an exclusive basis, although Hugh Osmond's privately owned Pearl Group made it clear last night that it wanted a chance to launch its own offer. A Pearl spokesman is quoted as saying: "We have not been invited to participate in the sale process but, if invited, we would be very keen to do so." Pearl is understood to be ...