Old Mutual considers “all options for strategic review”
London headquartered Old Mutual has replied to press speculation after British media Sky News suggested the group is planning a break-up of its activities.
Old Mutual, which is valued £9bn (€11.4bn), announced a strategic review in November 2015 when Bruce Hemphill joined as CEO.
“We can confirm that all options for the strategic review are being considered but no decision has yet been made,” stated Old Mutual in a press release.
Old Mutual’s share price surges 11% on London stock exchange.
The group will announce its preliminary results for 2015 on 11 March 2016 and is to provide an update on the strategic review at that time.
Established in 1845, Old Mutual had £319.4bn of assets under management at end December 2014. Its core businesses include Old Mutual Emerging Markets, Old Mutual Wealth, South African bank Nedbank and Old Mutual Global Investors.
The group provided returns on equity of 13.3% in 2014.