M&F NEEDS TO BE MORE VIABLE - Renee Bonorchis

Tue, 19 Aug 2008

With the auctioning of MUTUAL & FEDERAL by OLD MUTUAL fast approaching, CFO of the group Jonathan Nicholls said it would not be a fire sales and that there had been enough expressions of interest to make the auction viable. After the auction OLD MUTUAL will not have a short term insurance subsidiary and has instead said it will focus on banking, life assurance and asset management.