Pru splashes out to boost Thai share
Tuesday 06 November 2012
Prudential has agreed to buy the insurance unit of Thailand's Thanachart Bank for £368m in its first Asian deal since the botched takeover of AIA in 2010.
The deal, which will double the Pru's market share in Thailand, will turn up the heat on AIA in the fast-growing Asian market.
"We have had a long-standing ambition to significantly increase our presence in Thailand, one of our key target markets in South-east Asia," Pru's chief executive, Tidjane Thiam, said yesterday.
Mr Thiam this weekend said the fallout from the failed $36bn (£22bn) takeover of AIA "went beyond anything I could imagine", adding he was shocked by the "extreme personalisation" of the criticism he faced. "Did I make mistakes? Yes, certainly. I think I acted in good faith and I think the company has come out of it stronger and not weaker," he told BBC Radio 4's Desert Island Discs.
Harry Potter actor suffered 'severe flu-like symptoms' on a flight from London to Orlando
First full-length look is finally here
World cities ranked in terms of safety, food security and 'liveability'
- 1 Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
- 2 The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
- 3 Ball pool for adults opens in London
- 4 Amal Clooney gives excellent response to fashion question at European Court of Human Rights
- 5 Baldness could soon be treated using stem cells, scientists hope
Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
Sex abuse inquiry: 'Victims receive death threats' after MPs release names online
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Teenager brandishing fake gun taken down by police after demanding airtime on Netherlands' NOS TV station
The awkward moment Sarah Palin raised $25,000 for Hillary Clinton's election campaign
9 reasons Greece's experiment with the radical left is doomed to failure
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
iJobs Money & Business
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...
£25000 - £35000 per annum: Recruitment Genius: A Technical Report Writer is re...