IndiaInsurance
27th February 2009, 03:26 AM
Beleaguered US insurance giant American International Group may allow the US government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a source close to the matter. Another option under discussion is for Washington to convert $40 billion worth of preferred stock into common shares, said the source, who was not authorized to speak on the record. AIG, facing the prospect of a third round of government aid and the largest quarterly loss in US corporate history, is trying to sell off assets to stay afloat and help ...
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More... (http://in.biz.yahoo.com/090226/203/6zilu.html)