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Daily Dispatches: Prudential’s bid for AIA given regulatory approval

UK regulators have agreed in principle to Prudential US$35.5bn purchase of AIG’s Asian life insurance unit, sources familiar with the situation said, and the British insurer hopes to price its bumper rights issue within days. (Straits Times)

JP Morgan will open a precious metals vault in Singapore in the third quarter of this year, according to a release issued by the US bank earlier this week. The timing could hardly be better. (Finance Asia)

ICBC – the world’s largest lender by market value – plans to hire four firms including BNP Paribas, BOC International and UBS, as well as its own investment banking unit, to handle its Hong Kong share offering. (China Economic Review)

AMP, Australia’s second-biggest asset manager, has reiterated its interest in AXA Asia Pacific but did not indicate when or how it will come back with a bid to close out the five-month long takeover battle. (The Age)

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