China’s central bank has built a £130m ($241m) stake in Prudential, the UK’s second biggest life assurer, in a further example of the deployment of sovereign wealth by the Asian economic giant.
The 1 per cent stake puts the People’s Bank of China among the Pru’s top 25 institutional investors, although the stake is seen as a long-term holding rather than a step towards a takeover bid.
(FT)
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