Rumours of RSA takeover bids fuel share price rises

RSA Insurance gained 3.75p to 127.5p on rumours that it could mount a bid for AIG’s Latin American businesses and Fortis Insurance International, which operates across Europe and Asia, The Times reports.

RBS said that RSA would most likely be interested in Fortis UK, though it doubted whether the Benelux group would want to sell its UK operations given that it was in exclusive negotiations with Tesco.

Bloomberg said RSA rose 1.5p, or 1.2%, to 123.7 pence. It also said Fortis, rose 4 cents, or 1.5%, to €3.01.