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Update: Market Chatter: AMP Evaluates Divestment of Banking Unit, Potentially at Discount

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(Update to add AMP's response to the third paragraph)

AMP (ASX:AMP) is evaluating a divestment of its banking unit, potentially at a discount to book value, The Australian's DataRoom reported Thursday, citing anonymous sources.

The banking arm has been weighing down the group's capital, and its sale could open up the possibility of a merger between AMP and Colonial First State, according to the report.

A spokesperson for AMP said that the firm wouldn't comment on market speculation, in response to a request for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

What else is happening in Asia?

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^KOSDAQKOSPI