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Mutual Society Equitable Life - Business Sale
29/09/2004
Mutual society Equitable Life has been put on the market by chief executive Charles Thomson, who raised the prospect of a sale as he unveiled figures for the half year to June 30 showing that there had been a slowdown in policyholders fleeing the group. He said the figures proved that Equitable was more attractive as an acquisition target than the last time it was up for sale four years ago. In July 2000 Prudential abandoned a bid rumoured to be worth £5 billion for Equitable. Unable to find another buyer, the mutual closed its with-profits fund five months later.
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