PING AN LIKELY TO BUY INTO AVIVA AND PRUDENTIAL
AsiaInfo Services, January, 2008
AsiaInfo Services 01-24-2008 Ping An Likely to Buy into Aviva and Prudential SHENZHEN, Jan 24, 2008 (SinoCast via COMTEX) -- Ping An Insurance (Group) Company of China (SHSE: 601318, SEHK: 2318), China's second biggest insurer, may buy into Aviva PLC (LSE: AV) and Prudential PLC (LSE: PRU), two UK-based insurance firms. Based in the southern boomtown Shenzhen, Ping An saw its Yuan-denominated A-shares drop to the intraday limit-downs on January 21, 2008 as well as the next day, mainly because that it remained unclear about how to use a huge amount of proceeds it planned to raise via sales of additional shares and convertible bonds. An early report said that Ping An intends to buy into Aviva and Prudential.
But spokesperson of Ping An declined to comment. To...
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