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06-01-2010, 07:52 AM
Prudential, in the end, was hoist by its own petard. The more it talked up AIA, the more attractive the asset seemed to everybody else. AIG s decision to turn down Pru s proposal to pay 14 per cent less for its main Asian unit, after careful consideration, must mean that the group has assurances from sovereign wealth funds like Singapore s Temasek and China Investment Corporation, and perhaps strategic investors such as China Life and Ping An, that there is strong appetite for a reversion to Plan A: an initial public offering in Hong Kong.
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