Ping An's Prudential Tilt Hints at Home Troubles
Ping An has evaluated acquiring the U.K. insurer's fast-growing business in the region, Manuel Baigorri, Ruth David, Steven Yang and Zhang Dingmin of Bloomberg News wrote Wednesday. The Shenzhen-based firm has gone so far as to talk to banks about financing a deal that, including Prudential's Eastspring asset management, could be valued at $51.5 billion, analysts at Panmure Gordon & Co. reckon. Prudential Chief Executive Officer Mike Wells has made no secret of its love for Asia over a low-growth, mature U.K. business.