AIA is attracting a Chinese corporate consortium

A Chinese pool of financial institutions, including Commercial Bank of China, is studying the possibility of taking control of 30% of AIA, the life Asian subsidiary of AIG. The bid amounts to 10 billion USD, higher than that unsuccessfully submitted by British Prudential which valued the company at 30 billion USD. AIA is likely to get listed by 2010. This move shall enable AIG to raise approximately 15 billion USD.