Prudential Slides After $389 Million India Deal Pulls Attention to ICICI Stake
Prudential shares fell 0.9% in London after the insurer agreed to buy 75% of Bharti Life Insurance for about $389 million. The deal may require Prudential to cut its stake in ICICI Prudential Life below 10%, pending regulatory approval. ICICI Prudential Life shares dropped in India following the news. The FTSE 100 was little changed.