Aviva backtracks on preference share cancellation plans
U-turn follows criticism from investors and enquiries from the FCA.
Aviva has ditched its plans to cancel its preference shares, citing “feedback and criticism” from its investors.
The provider originally outlined plans to cancel £450m of its preference shares when it announced its full year results on 8 March this year.
The decision was met with outrage and criticism from investors.
Criticism
The Times reported earlier this week that a group made up of M&G Prudential, Invesco, GAM, Blackrock, Legal & General and Eden Tree had met with Aviva chairman Sir
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