MARKET TALK: Manulife Unlikely To React Much To AIA News

27th Jun 2010 00:56

2356 GMT [Dow Jones] Manulife (0945.HK) unlikely to react much to news it would be interested in buying AIG's (AIG) Asia operations, as Canada's biggest life insurer stresses "disciplined approach", "at the right price". This after failed takeover attempt by UK insurer Prudential (PRU.LN), which terminated US$35.5 billion plan to buy AIA earlier this month, as shareholders balked at US$21 billion they were asked to put up via rights issue to help fund takeover. Manulife spokesman toned down comments made by chief executive Don Guloien in Thursday's Globe and Mail newspaper, where Guloien said company interested in being "a potential suitor" for AIG's Asian unit, saying there is "huge amount" of interest from investors in seeing Manulife pursue such deal. Toronto-traded Manulife ends Friday at equivalent of HK$122.75, tad lower than HK close of HK$123.40. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 27, 2010 19:56 ET (23:56 GMT)