Wesfarmers has categorically denied claims that it leaked information about a potential sale of its insurance arm to Zurich to ‘test the market’.
A spokesperson for Wesfarmers told Insurance Business that “it is simply untrue that Wesfarmers would “strategically leak” information about any potential transaction.”
She added that “Anyone who would state or infer that is uninformed about the company and the way we operate”, and reiterated that the company does not comment on rumours or speculation regarding potential transactions.
The firm’s response follows this morning’s story on Insurance Business in which industry sources suggested that Wesfarmers may have leaked rumours to gauge market interest by igniting speculation about a possible sale to Zurich. Zurich has also rubbished reports that it is to buy Wesfarmers’ insurance division, branding it “rumour and speculation”.
Here is Wesfarmers’ statement to Insurance Business in full:
“As we have stated many times, we do not comment on rumours or speculation regarding potential transactions. However, it is simply untrue that Wesfarmers would “strategically leak” information about any potential transaction. Anyone who would state or infer that is uninformed about the company and the way we operate.”
