If the situation in BF wasn't so dire, then this tie-up could possibly make sense. But PRU hold all the cards and it wouldn't be a merger of equals, it would be PRU acquiring a smaller company at a considerable discount.
Itf it happened tomorrow it would be a more advantageous outcome for WAF shareholders because they see their investment diversified, but for PRU shareholders the risk would currently outweigh the rewards imo.
And the other question is why would PRU want to go from one basket-case location (Sudan) where they've already had their fingers burnt and repeat the process somewhere else? There's less risky options such as developing Kone for starters.
General topics, page-4
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