A bidding war is set to erupt following Prudential's announcement that there is a queue of potential buyers for its 79% stake in the Egg online bank.
Earlier this month Prudential said it was in talks about the possible sale of its stake in Egg. These discussions with the unnamed company are continuing - with speculation about the potential purchaser focusing on the MBNA credit card group.
Prudential said it had also received expressions of interest "from a number of other parties". Likely bidders are thought to include Lloyds TSB.
Prudential said: "With a view to delivering value for its shareholders, Prudential has now begun a process that will give a number of potential purchasers an opportunity to make a proposal."
It is believed that a sale of its controlling stake in Egg could boost the Pru's coffers by about £1.2bn. A competitive auction could drive this figure higher.
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