People's Bank buys $246m stake in UK insurer

The People's Bank of China has bought up to £134m-worth ($246m) of shares in the UK's second-largest insurer.

UK newspapers reported that the central bank now holds a 1% stake in Prudential, an insurer, making it one of the company's top 25 investors, after purchasing the shares in the open market in recent weeks. It would not have to declare any share purchases until its stake rose above 3%.

The reports said that the move was seen as a long-term investment rather than an attempt to take over

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: