Reuters scores strong wins on Prudential $21 billion prospectus delay

Reuters was ahead with news on May 5 that Britain’s Prudential would delay the prospectus for its jumbo $21 billion rights issue. A Reuters source-based story saying the company was ironing out issues with regulators beat the company’s statement to that effect by 11 minutes. The company’s shares rose 2.5 percent on news of the delay. Reuters was also first with shareholder reaction to the delay - getting one top ten investor to brand it shambolic only 20 minutes after the statement. This remained the definitive view through the day, with shambles becoming emblematic of Prudential`s troubles. The quote was widely picked up by other media including FT online, FT Alphaville, the Guardian, Telegraph and Daily Mail, with many of them citing Reuters.