AIG’s Liddy May Shift Strategy as Asset Sales Stall

Bloomberg reports:

American International Group Inc. may scrap a plan to repay a $60 billion U.S. government loan by selling businesses, after failing to find enough promising bidders, said two people with knowledge of the matter.

Chief Executive Officer Edward Liddy, who took charge in September and unveiled the strategy the following month, has concluded it won’t work, said the people, who spoke on condition of anonymity because the insurer’s talks with the government are private. AIG is proposing additional ways to reduce the company’s debt to the U.S., including handing over stakes in some operations directly to the government, a person said.