Prudential bid for AIG's Asian arm sends shares tumbling

Prudential’s £23.5bn (€26bn) swoop for the Asian arm of stricken US insurer AIG sent shares in the firm slumping 12% today.

Commentators called the deal “audacious”, but worries over the risks of the mega-deal and the dilutive impact on shareholders of the UK’s biggest ever rights issue sent shares down 68.5p to 534p.