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Allianz pauses talks to combine investment management business with Amundi: report


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  Allianz (OTCPK:ALIZF)(OTCPK:ALIZY) has put the brakes on talks with Amundi (OTC:AMDUF) and its majority stakeholder Credit Agricole (OTCPK:CRARF)(OTCPK:CRARY) over combining its €560B ($591.84M) investment management business with the larger French peer,

Allianz SE has temporarily halted discussions regarding a potential merger of its investment management business with Amundi, Europe's largest asset manager, according to a report by Bloomberg News. The talks, which were in preliminary stages, aimed to create a significant player in the asset management industry. The decision to pause was influenced by various strategic considerations, though specifics on why the talks were stopped were not detailed. This development comes amidst a broader context of consolidation within the financial sector, where firms are seeking to enhance scale and efficiency. Allianz, which manages about €2.2 trillion in assets, and Amundi, with around €2 trillion, could have formed a formidable entity in the market if the merger had proceeded.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/allianz-pauses-talks-to-combine-investment-management-business-with-amundi-report/ar-AA1vseLb ]

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