AXA: Looking At Asia Devt Options; In Talks With AMP
November 05 2010 - 5:34AM
Dow Jones News
French insurer AXA SA (CS.FR) said Friday it is looking at a
number of options to expand into the Asian market, and is in talks
with AMP Ltd. (AMP.AU), a wealth management company operating in
Australia and New Zealand, with activities in Asia.
"Among other things, we are in discussion with AMP, but this
doesn't mean we are about to make an announcement," a spokesman
told Dow Jones Newswires.
Australia-based wealth management group AXA Asia Pacific
Holdings Ltd. (AXA.AU), in which AXA has a 54% stake, said Friday
AMP has resumed talks with its largest shareholder [AXA] on
reviving their A$11 billion-plus offer for the company, but added
that talks are incomplete and may not lead to an offer.
AXA wants to buy AXA Asia-Pacific's Asian operations, which
could see it double its exposure to the fast-growing region.
-By Elena Berton, Dow Jones Newswires; +33 1 4017 1765;
elena.berton@dowjones.com
(Lyndal McFarland in Sydney contributed to this article.)
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