Shareholders in Skandia opposed to Old Mutual's £3.6bn ($6.3bn) bid, on Wednesday demanded at least three seats on the board of the Swedish insurer to protect their interests.
The Second Swedish National Pension Fund (AP2), the third-largest shareholder in Skandia and which is opposed to Old Mutual's bid, said it was co-ordinating the activities of large minority shareholders during negotiations with Old Mutual.
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