SINGAPORE (Reuters) — Singapore will block a bid by German insurer Allianz to buy a majority stake in Singapore’s Income Insurance but remains open to a new deal if its concerns can be addressed, Prime Minister Lawrence Wong said in a Facebook post on Monday.Culture, Community and Youth Minister Edwin Tong had earlier told parliament it would not be in the public interest for the government to approve the deal in its current form, which is valued at S$2.2 billion ($1.68 billion).
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Wong says Singapore will block Allianz deal for Income Insurance
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