OLD MUTUAL WOULD SEEK SECOND LISTING AFTER SKANDIA BUY

South Africa based Old Mutual would seek a listing in Stockholm, alongside its listings in London, Johannesburg and on three other African stock exchanges, should it succeed in its planned purchase of Nordic assurer Skandia, claims a Financial Times report, noting that this would make it easier for Skandia’s domestic shareholders to hold Old Mutual paper. The move was seen as a further push by Old Mutual to encourage Skandia shareholders to support an Old Mutual bid, which has yet to be made formally. A portfolio manager told the FT that people were working “around the clock” to get an offer on the table, “because this situation cannot go on for very much longer”.