AIA still worth £24bn, says American insurer
AIG still believes it will be able to raise £24bn from the sale of AIA, even though its
deal with Prudential has broken down.
The US Treasury, which bailed out AIG, has been told the insurer’s investment bankers think the unit could still fetch this amount through a float in Asia.
This may explain why the AIG board refused to sign off the lower offer that the
Pru (up 18p to 549.5p) re-submitted in an attempt to get the deal done.
Meanwhile, a panel in the US says it is not clear whether the American taxpayer will
ever fully recoup the £125bn that was ploughed into AIG.
A report by the Congressional Oversight Panel said the state bailout had a ‘poisonous’ effect because it created an expectation that other financial firms would be rescued.
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