It appears that South African insurers Old Mutual are continuing to invite offers. Mike Brown, Nedbank’s chairman, says: “Old Mutual has said that if it could find an owner for Nedbank that could add more value to Nedbank, and South Africa, it would enter into discussions again. Old Mutual has consistently said that Nedbank is a very valued member of the Old Mutual group, but if there was an owner for Nedbank that was better for all stakeholders, then it would be prepared to discuss with whoever that may be.”
There has been no rush of potential bidders since HSBC made its surprise withdrawal, leaving a trail of disappointment.
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