AA float rumours blasted

Acromas, parent company of the AA, has poured cold water on speculation it had abandoned plans to float.

Responding to reports in a national newspaper that Acromas – which has 1,200 insurance employees – had abandoned plans for a listing because of market concerns over its debts.

Chief executive Andrew Goodsell said, ''It is entirely wrong to say we have been forced to abandon a flotation this year because we never had such a plan in the first place.''