CI keeps up hunt for Amvescap

Canadian fund manager CI Financial has appointed banking and legal advisers to pursue a formal takeover bid for British fund manager Amvescap.

CI has appointed Fenchurch Advisory Partners and legal firm Freshfields to advise on a bid, the Sunday Telegraph said without citing sources.

It said the appointment was evidence CI had not given up on its plan to launch a bid worth £3 to 3.5 billion (€5bn) or more.