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Pru hopes to hatch deal to sell off Egg

Prudential it is in talks over the sale of its 79 per cent stake in online financial services provider Egg.

Speculation over a possible buyer has centred on US credit card issuer MBNA but Royal Bank of Scotland, HBOS, American bank Capital One and National Australia Bank have also been tipped as contenders.

Pru says discussions are at a preliminary stage. Egg has confirmed that it is helping the Pru over a possible transaction.

Egg was set up by Pru in 1998 and floated in June 2000. The company has over 2,000 staff and a total of around three million customers.

Pru&#39s statement said: “In the light of Egg&#39s share price movement today, Prudential confirms that it is in discussions regarding a possible transaction with respect to its approximately 79 per cent shareholding in Egg.

“Such discussions are at a preliminary stage and there is no certainty that any agreement will be reached.”

Egg says: ” We are assisting Prudential regarding a possible transaction with respect to its shareholding.”

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