The stock market’s rally stalled yesterday but Aviva shares motored higher on speculation that there are plenty of potential suitors eyeing up its French business. Amanda Blanc, the insurer’s new chief executive, made clear last month that her focus would be on Aviva’s operations in the UK, Ireland and Canada. She promised to take “decisive action” with the parts of the business that did not fit her vision. Her comments opened the door for potential suitors to table their interest for those out-of-favour divisions, including the French business, Aviva’s largest European operation. Reports suggested that 20 parties approached Aviva about the division and that the list has been whittled down to three with a final decision expected by the end of the month.

Source: The Times September 08, 2020 23:03 UTC