Swedish authorities green light Skandia bit

Old Mutual PLC said the Swedish Financial Supervisory Authority has approved its acquisition of the Swedish insurer Skandia.

After clearance by the UK Office of Fair Trading earlier this week, Old Mutual said it has now received all other anti-trust clearances for its bid.

Jim Sutcliffe, Chief Executive of Old Mutual, said: “The approval from the Swedish FSA is an important milestone for us, as it brings the timetable into much sharper focus. The Swedish FSA’s clearance is very important for the policyholders of Skandia and we look forward to working with them as Skandia joins our group.”