Egg On Boil As Prudential Puts Its Stake Up for Sale ; Market Report

Evening Standard - London › January 14, 2004

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Summary

INTERNET banking group Egg surged 38p, or 31%, to 163p on the news that its parent company Prudential, up 221/4p at 492p, has put its 79% stake up for sale.

The list of potential bidders is said to include the giant American bank MBNA. Egg is currently valued at Pounds 1.13 billion. But dealers were calling for an inquiry into share price movements ahead of the announcement this afternoon.

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Extract

Egg On Boil As Prudential Puts Its Stake Up for Sale ; Market Report

Egg is considered a tasty morsel as it comes close to dumping its loss-making French offshoot and slims down to a core, highly profitable domestic c...

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