Standard Life updates on possible strategic combination with HDFC Life
Source - SMW
Standard Life says it has noted today's announcement by Housing Development Finance Corporation (HDFC), in relation to the proposed merger involving HDFC Life, Max Life Insurance, Max Financial Services and Max India.
The Company said:
"The said announcement states that, further to the representation made to the Insurance Regulatory and Development Authority of India by HDFC Life and Max Life, the Authority has on 7 June 2017, reaffirmed its original position regarding Section 35 of the Insurance Act, 1938 and that, consequently, the parties are evaluating various options with regard to the merger."
At 1:51pm: (LON:SL.) Standard Life PLC share price was +0.15p at 381.15p