RSA shareholders want to hear "convincing arguement" for Aviva GI swoop
RSA is widely reported to have lined up BNP Paribas, Deutsche Bank and HSBC to underwrite a £5bn rights issue to fund its proposed takeover of Aviva's UK, Irish and Canadian general insurance businesses.
City AM reports the move has won favour among some shareholders. However Colin Morton, a fund manager at Rensburg, warned: "[But] there are concerns... and they would have to give us a convincing
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