Geffen: Pru reminds me of Marconi destruction

clock

Neptune's Robin Geffen has compared Prudential's proposed AIA takeover to the 2001 downfall of Marconi.

In what is another stinging attack on Pru chief Tidjane Thiam, Geffen says the deal is a "value destroying" investment. Geffen, the founder and managing director of Neptune, has set up the Prudential Action Group to try and build up shareholder upport against the deal. "I think it is really important to reflect on behalf of our unit holders concern about a company that seems intent on paying an extremely large value destroying investment overseas," Geffen said at the 2010 Fidelity FundsNetwork Investment Forum. "I have to say, one of my childhood heroes was Lord Weinstock and this ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot