Swiss Re in talks with SoftBank for 10% stake
The insurance firm based in Switzerland, Swiss Re, is currently in talks regarding a minority stake acquisition with the Japanese holding company, SoftBank.
According to Swiss Re, the Japanese firm is not likely to purchase any more than a 10% stake in it.
Swiss Re have also reported that talks remain “at an early stage”, covering the acquisition and potential strategic cooperation.
“There is no certainty that any minority investment or strategic partnership will be agreed, or as to any terms, timing, or form of any such investment or partnership,” CNBC reported the Swiss company stating.
“If you have a small stake, you cannot influence the capital position, the assets. I feel there is a lot of paranoia about it,” remarked CEO of Swiss Re, Christian Mumenthaler, according to Bloomberg.
“All of these companies they own, they have probably about 800 million customers overall.”
“They have a reach to 800 million customers,” Mumenthaler said. “These elements are worth exploring.”
Any purchase of a minority stake would aid SoftBank’s attempts to explore the reinsurance industry.
According to Bloomberg, SoftBank initially intended to purchase as much as a 25% stake in Swiss Re.
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