has the latest
on the Pioneer Investments
story. Only two bidders are left in the running for UniCredit's Pioneer [see profile
], according to the pub, which stated that UK insurance firm Resolution
bowed out of contention, leaving Amundi
to vie for Pioneer. [See MFWire's living timeline
of the Pioneer auction for more details and history.]
The report states that the Pioneer deal is likely to come with a price tag of about EUR 1.5 billion. This is half of Pioneer's value of EUR 3 billion in UniCredit's accounts.
According to the report, both suitors want to issue shares for the transaction.
Armie Margaret Lee
Stay ahead of the news ... Sign up for our email alerts now