It didn’t look like the most obvious day to do a deal with the US closed for Labour Day on Monday and Asian stock markets under pressure yesterday after Moody’s downgraded its outlook on the EU, but four block trades nevertheless hit the market after the close.
Perhaps the sellers wanted to get ahead of a potential sale of shares in pan-Asian life insurer AIA Group by American International Group AIG, which could soak up a lot of excess demand if it does happen. AIG still owns a 17.6% stake AIA, which it became free to sell yesterday when its latest six-month lock-up expired. The stake is...
¬ Haymarket Media Limited. All rights reserved.
