Speculation of an AXA bid for IL&P is ‘premature’

SPECULATION that French insurance giant AXA was preparing to mount a bid for Irish Life & Permanent was dismissed as premature last night.

The bid rumours began in London, causing a huge surge in the group’s share price, which was up by over 12% at €3.70 at one point in the afternoon.

As the markets took stock the price retreated and ended up 6.09% at€3.50 on the day.