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Pru and Egg
sanfly
Posts: 431 Forumite
What are the facts behind press reports that "the is Pru struggling", as it owns Egg should Egg account holders be thinking of moving it to a safer haven?? ???
sanfly
0
Comments
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I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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What are the facts behind press reports that "the is Pru struggling", as it owns Egg should Egg account holders be thinking of moving it to a safer haven?? ???
Pru tried to sell its 85% stake in egg earlier this year, they messed it up big time ! Seriously - they got an offer on the table for about 190p but wanted some daft price well above £2 !
Now eggs trading at around 90p !
So yeh, this mess, has impacted on their business, though cannot say to what degree. Afterall one of their biggest investments has lost more than half its value !
Not only did they make a dogs dinner of the sale, but they messed things up for egg as well ! as all the potential buyers got to look at the Egg books ! to see how they run their business etc.. Now that has seriously hurt egg, hence the collapse in their share price and egg selling bits off left right an centre.0
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