Possible Pioneer Split-Up Gains More Buzz
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Monday, August 23, 2010

Possible Pioneer Split-Up Gains More Buzz

Dow Jones-owned Financial News is the latest publication to pick up on speculation that the honchos at UniCredit are likely to sell Pioneer Investments [see profile] in parts rather than as a single package. [See MFWire's living timeline of the Pioneer auction for more details and history.]

"They have tried to sell the entire business, and failed," an unidentified investment banker told the pub. "Large asset gatherers aren't interested. In my view the U.S. is easily doable, as a rationalisation play. Trying to sell the rest of the business complete would be hard. They may be well advised to sell Germany and Italy separately."

Another investment banker echoed those comments: "The U.S. is easy. Global is hard."

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