qbe possible takeover???read

MARKET TALK: Promina Might Fit Best With QBE - Citigroup 30/01/06 11:36:00

1136 [Dow Jones] STOCK CALL: Citigroup says while speculation about QBE
(QBE.AU) acquisition interest has focused on IAG (IAG.AU), in some ways Promina
(PMN.AU) tie-up easier to contemplate. IAG difficult as it's unlikely ACCC would
allow without reasonably significant divestment. Synergies also far from clear.
PMN commercial book would be easier fit with QBE's existing Australian
commercial business. Likely to be less ACCC concerns. Whether PMN would be
willing to negotiate is difficult to assess. (RBT)

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