Friends Provident is coming under mounting pressure to start talks with would-be acquirer JC Flowers, The Telegraph reports.
Shareholders said yesterday that the embattled insurer has one last chance at its results this week to persuade the City that should remain independent. Friends is expected to post a dramatic fall in 2007 profits tomorrow. Investors said the future of the company will hang on quite how bad the results are. Flowers has been stalking Friends for months and has built up a 2.7% stake in the insurer. THE CONFEDERATION OF British Industry has stepped up pressure from business on the Chancellor ahead of his first Budget by calling for a major overhaul of corporate tax, according to The Indep...
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