/ 24 January 1999

OLD MUTUAL FIGHTS FOR LISTING

LIFE assurance giant Old Mutual is still trying to persuade the government to grant it the approval it needs to list in London this year, the finance ministry said this week. “They have to convince government why they want to move,” a ministry spokesperson said. He added that Finance Minister Trevor Manuel would not respond to pressure even though Old Mutual needs approval soon so that it can list on the London Stock Exchange by June, or be forced to delay its market debut until next year. Old Mutual declined to comment on the negotiations with government but said it was still on track with its plans to ditch its mutual status and list some time this year.