INSURER Friends Provident has become the latest mutually owned organisation to be surrounded by takeover speculation. The firm takes in the Provident Mutual business and has around 1.25 million with profit policyholders, who would be in line for a windfall in the event of a takeover.
Prudential, along with Abbey National and Sun Albance, was said to be looking at the business. "Our chief executive, Mr Peter Davis, said last autumn that Prudential was interested in taking part in the current rationalisation of the industry. However, we have no comment to make on these rumours," said a Prudential spokesman.
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