Banks clamour for piece of Pru as shareholders protest - papers

The City's leading investment banks are falling over themselves to get a slice of the $700m in fees on offer from Prudential's record $21bn rights issue.

The three banks in charge of the deal, Credit Suisse, HSBC and JP Morgan Cazenove, were last night drawing up a list of 30 others to share some of the risks - and rewards. Every British, European, American and Asian investment bank active in the equity markets is understood to have pitched to take part. The final group of 30 sub-underwriters is likely to include heavyweights such as Morgan Stanley, Bank of America, Merrill Lynch, Barclays, Royal Bank of Scotland and Deutsche Bank. Full story...