Opinion: Downsizing

If telecoms and internet group SoftBank's potential purchase
of a large minority stake in the 155-year-old bastion of
Switzerland AG always looked unlikely, yesterday's
investors' day at Swiss Re put the transaction parameters on a
more realistic footing.
Swiss Re CEO Christian Mumenthaler made clear that Masayoshi
Son's behemoth would takeno more than 10 percent of the (re)insurer's existing
equity.
CFO John Dacey even suggested that the terms of the deal would
be a matter for the Japanese hold