MARKET TALK: Prudential's M&G Retail May Raise GBP2B If Listed

1st Jul 2010 10:59

0959 GMT [Dow Jones] The retail asset management business of Prudential's (PRU.LN) M&G Investments unit could raise GBP1.5B-to-GBP2B if listed, says Panmure Gordon analyst Barrie Cornes. Cornes says GBP2B-to-GBP2.5B could be raised if M&G as a whole is listed. This follows recent speculation that Prudential might consider floating M&G after failing to acquire AIA. Cornes notes M&G's retail business manages funds worth GBP70B, and says the recent float of Jupiter Fund Management (JUP.LN) "demonstrates appetite for such a move and it would enable the existing management of M&G to be suitably incentivised." Prudential declines to comment. Buy rating, 509p target. Shares -2.1% at 498p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 01, 2010 05:59 ET (09:59 GMT)