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Bidders put off by Egg asking price - reports

05 February 2004  |  4254 views  |  0 Bidders put off by Egg asking price - reports

At least two potential bidders have walked away from Prudential's auction of Internet bank Egg amid disagreements over price, according to unconfirmed reports.

Newswires have been buzzing with reports citing un-named sources close to the firms who are said to have been put off by Prudential's asking price for its 79% Egg stake. Monoline credit card outfit MBNA, Royal bank of Scotland, Citibank and HSBC have all been touted as potential bidders for the online bank.

Analysts have put a ceiling of 200 pence a share on Egg's stock, valuing the company at up to £1.6 billion.

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