Business Services Industry
U.K. financial firm Prudential gets Egg on face over talk of bid.
Knight Ridder/Tribune Business News, July, 2004
By Brett Arends, Daily Mail, London Knight Ridder/Tribune Business News
Jul. 23--Apparently the watched Egg never boils either. Takeover talk for Prudential's online bank has simmered since January. But this again failed to bubble over into a deal when the group announced results. The shares fell 8 1/4 pence to 148 3/4 pence.
A number of big players are interested in Egg -- especially in its credit card operation. News may come with next week's results from Prudential, which owns 79 percent. But the market is growing sceptical that anything will happen at all. The suggested price has dropped from 195 pence to 160 pence.
Egg is ending its disastrous French expansion which cost UKpound 280 million in less than three years.
Its...
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