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Old Mutual in talks to buy Skandia’s UK business

Old Mutual is in early stage talks with Skandia about buying its UK business.

The South African provider has long been on the acquisition trail, sitting on a 1bn warchest, but has not not made a formal offer for Skandia yet.

Buying Skandia would see Old Mutual enter the UK life assurance market and would bolster its fund management business.

Old Mutual has recently been linked with buying institutional fund manager Deutsche Asset Management.


Editorial: A hard road for Blunkett

It almost seems like a case of another day another pensions minister under Tony Blair’s Government. Former Home Sec-retary and Education Secretary David Blunkett is the new Work and Pensions Secre-tary. He replaces Alan Johnson, who had been making the right noises about pension reform although admittedly without completing any major initiatives.

Exchange sale sanctioned

The acquisition of Marlborough Stirling by Vertex Data Science has been sanctioned by the high court of justice.Marlborough Stirling is the parent company of IFA portal The Exchange.Vertex, a subsidiary of United Utilities, bought the company in March for 95.3m.It is expected to take control from 12 May.


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