5th Oct 2015 06:00
LONDON (Alliance News) - Insurer Prudential PLC is considering quitting the UK in order to escape more onerous regulation on the sector from the European Union, The Sunday Times reported.
The radical plan may result in Prudential selling its British operations or spinning them off into a separate company, the newspaper said, citing City sources.
The departure would deal a major blow to London as a global financial centre and could put more pressure on UK Chancellor George Osborne, who is already working to sate the concerns of Britain's banks.
http://www.thesundaytimes.co.uk/sto/business/Finance/article1614891.ece
By Sam Unsted; [email protected]; @SamUAtAlliance
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