30th Sep 2010 09:05
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30 September 2010
RENEWAL OF CAUTIONARY ANNOUNCEMENT BY NEDBANK GROUP LIMITED
Nedbank released a renewal of cautionary announcement today in relation to the previous cautionary announcement released by it on 23 August 2010, wherein Nedbank shareholders were informed that Old Mutual had advised the Board of Directors of Nedbank Group that it had received a proposal from HSBC Holdings plc ("HSBC") to acquire a controlling interest in Nedbank Group. Nedbank advised its shareholders today that the process leading up to a potential offer is ongoing.
Old Mutual has also published the full text of the Nedbank announcement referred to above, today.
Old Mutual will communicate further material developments in this regard in due course.
For further information on Old Mutual plc, please visit the corporate website at www.oldmutual.com
Enquiries
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External Communications |
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Patrick Bowes |
UK |
+44 (0)20 7002 7440 |
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Investor Relations |
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Deward Serfontein |
SA |
+27 (0)82 810 5672 |
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Aleida White |
UK |
+44 (0)20 7002 7287 |
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Media |
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Don Hunter (Finsbury) |
UK |
+44 (0)20 7251 3801 |
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Rob Pinker (Brunswick) |
SA |
+27 (0)11 507 7300 |
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Marina Bidoli (Brunswick) |
SA |
+27 (0)11 507 7300 |
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Notes to Editors
Old Mutual
Old Mutual plc is an international long-term savings, protection and investment Group. Originating in South Africa in 1845, the Group provides life assurance, asset management, banking and general insurance in Europe, the Americas, Africa and Asia. Old Mutual plc is listed on the London Stock Exchange and the JSE, among others.
In the year ended 31 December 2009, the Old Mutual Group reported adjusted operating profit before tax of £1.2 billion (on an IFRS basis) and had £285 billion of funds under management at the year end. The Old Mutual Group has approximately 54,000 employees.
Sponsor
Merrill Lynch South Africa (Pty) Ltd
Related Shares:
Old Mutual PLC