保誠

Prudence required from Prudential
FT社評:保誠管理層的敗筆


自2月份宣佈收購友邦以來,保誠管理層幾乎沒有傑出的表現,不僅搞砸了就該交易與股東進行的初始溝通,而且還誤讀了英國金融服務管理局在後危機世界的審慎做法。

The Financial Services Authority and Prudential have come to blows. The regulator is insisting that the British insurer raise more capital to complete its mega takeover of Asian rival AIA. Prudential is haggling furiously to avoid this, fearing that it might further stretch the already strained economics of the deal. The embarrassing stand-off has delayed the giant rights issue Prudential needs to fund the takeover, and threatens to stain the reputation of the group's management team. It may even derail a transformative deal that would seal Prudential's position as a British global champion.

英國金融服務管理局(Financial Services Authority,以下簡稱FSA)與保誠集團(Prudential)針尖對上了麥芒。金融服務管理局堅持要求保誠募集更多資本,以完成對亞洲競爭對手友邦保險(AIA)的巨資收購。保誠則竭力爭辯,以求避免這麼做,擔心這可能會進一步加劇該交易業已喫緊的經濟狀況。這種令人困窘的僵局已經推遲了保誠爲收購融資所需進行的鉅額配股,並可能損害公司管理團隊的名譽。它甚至可能會令確保保誠成爲英國全球冠軍企業的轉型交易夭折。

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