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FMG tempts Fidelity shareholders

Wednesday 9th of May 2007
The offer, made last week, is also understood to have sparked a rival higher offer from another group of Fidelity shareholders.

As part of the sale of its life insurance division to Fidelity in February FMG received just over 8% of the company’s stock but the group’s chief executive, Gordon Smith, said a 10% holding would be “more strategic”.

“In discussions with the board we agreed a 10%...

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