UK insurer Prudential is not considering a renewed attempt to buy AIG's Asian life unit, a spokesman for the company said on Sunday, denying a media report that a fresh takeover proposal was in the works.
The Sunday Times, quoting unnamed sources, said the group was considering an attempt to resurrect its bid and that Pru's chief executive Tidjane Thiam believed he could have a chance to table another offer before the end of this year.
Earlier this week, Prudential <2378.HK> abandoned its plan to buy AIG's Asian life unit for $35.5 billion following shareholder protests that the deal was too expensive.
We remain highly committed to Asia through our current very successful business. We will not be resurrecting the AIA deal and any speculation is misguided and inaccurate, Prudential's Hong Kong-based spokesman Chad Tendler told Reuters in an email.
The bid, which cost 450 million pounds ($660 million) in adviser fees and other charges, has cast doubt over the future of Thiam and prompted calls for a review of Pru's strategy.
But, ahead of Pru's annual general meeting on Monday, its Chairman Harvey McGrath told the Financial Times that the vast majority of the group's big investors did not want Thiam to step down.
(Reporting by Denny Thomas; Editing by Ron Popeski)