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