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Swiss Re "Open" to anchor investors as SoftBank Talks Fail



Swiss Re AG said it will continue to welcome an anchor investor after Masayoshi Son named SoftBank Group Corp. their participation in the second largest reinsurer in the world.

The collapsed talks mark the end of nearly four months of deliberations on how SoftBank would invest in Swiss Re, even though the two companies announced on Monday that they can still agree to work together in some companies. Purchasing a stake would have given the Japanese technology and investment company access to stable cash flows and helped to diversify its sources of income.

"We are still very friendly ̵

1; it was not a bitter end to the talks" The reinsurer is still open to "interesting anchor shareholders," said Heckmann, Swiss spokesman Willy Andreas Heckmann said by phone. He declined to say if Swiss Re is talking to other potential investors.

The two sides did not agree on the price and size of the stake and how much control Son had on people with knowledge of The Thing earlier this month. The reluctance of Swiss Re to issue new shares would have forced SoftBank to buy its stake in the open market.

The Swiss company "will also further research business ideas between the operating units of Swiss Re and the portfolio companies of SoftBank a statement on Monday: [99559007] Swiss Re is in Zurich at 9:05 pm 91 percent to 91.12 Swiss Francis has risen and has not changed much since the beginning of the year.

New Focus

Issues within the SoftBank, such as the upcoming merger of its Sprint Corp. business with T-Mobile US Inc. and the initial public offering of the SoftBank mobile unit Sons focus shifted, people said.

"The termination of discussions on a potential minority stake is not really surprising, but still somewhat disappointing," said the analyst of Bank Vontobel AG, Stefan Schuermann, in a note to the investors. "Not much can now be expected from SoftBank."

Although it was initially reported in February, SoftBank was as much as a Dri Later, Swiss Re later said that the stake discussed was 10 percent. Speaking on the talks on May 4, Chief Financial Offerer John Dacey told reporters that the talks would continue and that the company had nothing to add

Son has a net wealth of $ 13 billion and is Japan's third richest person, according to the Bloomberg Billion Dollar Index.

( Adds a commentary in the third paragraph, the analyst's comment is seventh. )


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