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Friday, March 18, 2011

Metlife Taiwan unit gets at least 3 bidders-sources

Competition has heated up in Metlife Inc's second attempt to sell its Taiwan life insurance unit, with at least three local financial firms submitting bids, two sources close to the situation on Friday. Chinatrust Financial , Taiwan's top credit card issuer, has turned in its bid for the life insurance unit, said one of the sources. Mercuries Life Insurance, a unit of retailer Mercuries , will do so later in the day, said the other source. Taishin Financial , which counts private equity fund Newbridge and billionaire investor George Soros as major investors, said it will bid.

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