Old Mutual ended a seven-month battle for control of Skandia today after shareholders controlling 62.5% of the Swedish fund management group accepted a £3bn (€4.4bn) hostile offer.

Acceptances were still being counted today and a further announcement is expected tomorrow, when Skandia said it would issue a formal statement.

Helen Fowler

Old Mutual

Morgan Stanley

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Old Mutual seizes control of Skandia

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