PRUDENTIAL HAS restated that it is open to offers for its stake in Egg, the internet bank, after the company reported a fall in profits at the lower end of market predictions.
The FT says the insurer believes there are a number of potential bidders for Egg. Pru hopes a deal might boost investors confidence, which suffered this morning after the company announced operating profit dropped to £794m last year compared to £1.13bn in 2002. Shares fell 3.7% to 491.5p this morning. Pru's 79% stake in the internet bank, which coluld be worth up to £1.6bn, has been on offer since the beginning of the year. Jonathan Bloomer, Pru's chief executive, said: "[We have] begun a process that will give a number of potential purchasers an opportunity to make a proposal [fo...
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