- Insurance group Prudential said it would commence talks with activist shareholder Third Point after it called on the company to be broken up.

Third Point, headed by US billionaire Daniel Loeb, has taken a near 5% stake in Prudential and written to its board urging it to split its Asian and US businesses.

'Prudential proactively engages with shareholders with regards to group strategy and structure, and looks forward to commencing a dialogue with Third Point with regard to the views outlined in its letter,' the company said.

Prudential said it would provide an update on its performance and strategy at its full-year results briefing on 11 March.

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