Aberdeen denies it is seeking buyer to offset Asian market turmoil

LONDON: Aberdeen Asset Management has denied press speculation it is looking for a buyer, as it seeks to reverse an extended stock price decline and hold onto clients spooked by recent volatility in its key Asian stock markets.

Britain’s Financial Times newspaper said Aberdeen’s CEO Martin Gilbert had begun to court possible suitors, in an effort to staunch asset outflows and prevent an exodus of key staff worried about how company performance could hurt bonuses.