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Old Mutual dark horse for Gartmore

Old Mutual is looking to buy Gartmore, according to The Mail on Sunday.


The South African insurance giant is believed to be bidding £500m and is expected to offer the top management job to existing Gartmore chairman Paul Myners.


Gartmore has been put up for sale by NatWest in it fights against a £21bn hostile takeover bid by the Bank of Scotland.


Other potential buyers expected to join in the fight for Gartmore include Dutch bank ABN-Amro, Zurich Insurance and Barclays.



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