Aviva share price up on speculation AXA could follow RSA with bid

Aviva's share price rose today on rumours that French giant AXA could join RSA by submitting a bid for parts of the business.

At 4:05pm its share price had risen 4.58% or 17.3p to 395.20p on speculation that AXA could be interested.

It follows a similar leap in the price on Friday after it was revealed that Aviva had rejected a £5bn offer from RSA for its general insurance business.

In June, AXA sold its life business to Resolution for £2.75bn but said it remains committed to its UK general insurance unit, currently headed by chief executive Philippe Maso.

Aviva issued a statement on Monday confirming it rejected the RSA bid because the offer undervalued the business.
RSA said its offer was "fair value" and remains open to discussions with Aviva.