"Unlikely to succeed", "Un-doable",
"very surprised" (copyright all insurance analysts).
These were just some of the comments rushed out after revelations
that RSA had approached UK rival Aviva to buy its general insurance
operations for £5bn.
On the face of it, the analysts' scepticism is well founded.
After all, the recent shareholder revolt over Prudential's
attempt to buy American International Group's AIA shows
investors' reluctance to support ambitious rights issues.
And RSA's interest is certainly that. The UK insurer is...
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