Business Services Industry
Daily Mail, London, Market Report.
Knight Ridder/Tribune Business News, June, 2004
By Geoff Foster, Daily Mail, London Knight Ridder/Tribune Business News
Jun. 16--SCRAMBLE FOR EGG: It's been simmering for months and now dealers believe that Egg is coming to the boil. It rose a further 2 3/4 pence to 162 pence amid growing speculation that the Prudential (6 1/2 pence better at 457 1/2 pence) has finally sold its 79.3 percent stake in the internet bank to MBNA and the US credit card giant will soon table a UKpound 1.4 billion, or 175 pence a share, bid.
The Pru put Egg up for sale in January, but bidders -- including Lloyds TSB, Royal Bank of Scotland and Capital One -- pulled out because of price.
Bankers now say that MBNA's offer may represent the last chance for Prudential to find a buyer for Egg, which has 3.2...
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