Skandia directors defend bid stance

Speaking at a press conference in Stockholm this morning, the pair have said the board as a whole remains fully behind the Turbo plan to boost Skandia’s business – outlined in the document published earlier today , and that the ball is now firmly in the shareholders’ court. ”It’s not a good thing this is a split board, but we live in a free society. People have a right to disagree,” Magnusson says. What is also the case, he adds, is that Skandia today is a very different company than it was a couple of years ago when it was dogged by performance and executive issues. That said, Magnuss...