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Prudential to buy AIA

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Prudential to buy AIA

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Britain’s Prudential plans to buy AIG’s Asian life insurance arm (AIA) for the equivalent of 26 billion euros.

The deal will make it the undisputed leader in one of the world’s fastest-growing financial services markets.

Nearly 15 billion euros for the purchaser will be raised through selling new shares.

Investors said they needed to know more about the finances of AIG’s Asian unit to judge whether that is a good move.