UK - Britannic Group today dismissed as speculation talk that Dutch insurer Aegon is eyeing the firm as a possible buyer.
Recent reports have identified Aegon as a potential bidder for Britannic, which last week saw operating profits fall to £145.4m compared to £174.5m in 2000.
Last week, Britannic hinted that it would not dismiss selling the beleaguered financial services group, saying: “[The] markets in which we operate are changing rapidly, and we believe out businesses need greater scale in order to exploit opportunities to the full. Consequently, we are alert to appropriate opportunities to achieve the necessary scale for the group.”
A source at Britannic said that the firm may also be looking to merge or form strategic partnerships as other options.
By Madhu Kalia
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