Bernt Magnusson, chairman of Skandia, has raised the prospect of selling the troubled Swedish financial services group ahead of an investor meeting this week. He told Dagens Nyheter, a Swedish newspaper, that he was ruling nothing out, indicating that the company or its subsidiaries could be sold.

Harry Vos, head of investor relations at Skandia, said the focus was on ironing out uncertainties that may have an impact on investors, rather than merging or making acquisitions. However, he said a legal dispute in the US may act as a poison pill to any bids for the group. Skandia has been embroiled in the market-timing scandal and is party to class action law suits.