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Swiss role for Zurich float

Zurich Financial Services is heading home. The Anglo-Swiss insurer plans

to consolidate its stock exchange listings. The proposed deal will see ZFS

become the quoted holding company listed on the Swiss stock exchange and

absorbing Swiss-quoted Zurich Allied and UK-quoted Allied Zurich.

Zurich, which owns Allied Dunbar, Eagle Star, Threadneedle and Sterling in

the UK, plans to apply for a primary listing on the Swiss stock exchange.

It will also apply for a secondary listing in London.

The group denies that the move has anything to do with amendments made to

the tax status of multinationals in the UK in the March Budget and it hopes

the procedure will be completed by the end of the year following

anticipated shareholder approval in June.

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