US credit card firm MBNA is believed to be lining up a £900 million bid for British online bank Egg, which has an operation at Dudley.

MBNA is expected to make a formal approach shortly to insurer Prudential, which owns 79 per cent of Egg.

It was reported yesterday that new Pru chief executive Mark Tucker is keen to sell the stake in Egg as soon as possible as it does not fit with the insurer's core operations.

Prudential tried to sell Egg via an auction last year but potential buyers baulked at an asking price thought to be in the region of £1.6 billion.

Egg made operating profits of £10 million in January, February and March. About 400 people work in Dudley.