Softbank, the Japanese tech company, wants to take a major stake in Swiss Re. The world’s second-largest reinsurer has now made it clear that it is not willing to go as far as the projected buyer.
The offer is on the table: Softbank wants to buy a quarter of Swiss Re, according to media reports. And it is willing to pay about $9.6 billion for the stake.
The Swiss side at the table remained rather quiet recently – until now. Swiss Re at its investors day on Wednesday confirmed that talks were ongoing regarding the purchase of a minority stake by Softbank.
Not More Than 10 Percent
However, more to the point, Swiss Re also said that such a purchase was «currently expected not to exceed 10 percent of Swiss Re's share capital». In other words, Swiss Re remains interested in a tie up, but not to the extent the Japanese had hoped for.
Both parties are exploring ways of making the cooperation strategic, going further than a financial interest would suggest. And yet, the Zurich-based company also add a few words of caution, should the talks not go the way that people expect.
«Swiss Re would like to emphasize that these discussions remain at an early stage, and there is no certainty that any minority investment or strategic partnership will be agreed, or as to any terms, timing, or form of any such investment or partnership.»
