Swiss Life Holding AG (SLHN.VX) Friday said it is in talks with German insurer Talanx AG about its stake in MLP AG (MLP.XE), as it seeks to resolve its conflict with the German financial services company.

Swiss Life, which holds a 24% stake in MLP, wants to reduce this to under 10% in an attempt to revive its cooperation with the German company, according to reports.

Swiss Life had taken a stake in MLP in an attempt to broaden its business in Germany and Eastern Europe, but this backfired when MLP proved an unwilling ally. In November, MLP said it would discontinue its product distribution deal with the Swiss insurer.

On Friday, Swiss Life said that striking a deal with Talanx is one of several options it is considering and that no decision has been made yet.

According to reports, Swiss Life would transfer to Talanx nearly 10% of its holding in MLP and Talanx would obtain a 10% stake in Swiss Life. Swiss Life declined to comment.

The company said it wants to resolve the situation as soon as possible and will at any rate update the market on March 24, when it reports 2008 earnings.

Swiss Life shares closed Thursday at CHF54.95, down 24% since the start of the yeear.

Company Web site: www.swisslife.com

-By Hans Schoemaker, Dow Jones Newswires; +41-43-4438045; hans.schoemaker@dowjones.com
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