China bank buys 1 percent stake in Prudential
LONDON (Reuters) - China's central bank has bought a 1 percent stake in insurer Prudential (PRU.L) but not as a precursor to a takeover approach, The Sunday Telegraph newspaper reported.
The paper said on Sunday the People's Bank of China had bought stakes in several large European companies in recent weeks to take advantage of depressed markets and deploy some of its foreign currency reserves.
Prudential would not comment on the report.
(Reporting by Dan Lalor; editing by Elaine Hardcastle)
© Thomson Reuters 2009 All rights reserved.
Credit headwind
News headlines speak of recovery, but financing is still a big problem in Germany. The dearth of credit to tide firms over is frustrating policymakers, who are blaming reluctant banks and there is little agreement on how best to increase lending flows. Full Article
UK
US
Sotomayor pledges impartial justice