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Italy regulator summons Intesa Sanpaolo and Generali - source

Published 24/01/2017, 17:14
© Reuters. FILE PHOTO:  The headquarters of Italy's biggest insurer Assicurazioni Generali is seen in Rome
GASI
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ISP
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CRDI
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MDBI
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MILAN (Reuters) - Italy's market watchdog Consob will summon top executives at bank Intesa Sanpaolo (MI:ISP) and insurer Assicurazioni Generali (MI:GASI) in the next two days, a source close to the matter told Reuters on Tuesday.

The source added the authority might also summon UniCredit (MI:CRDI), the biggest shareholder in investment bank Mediobanca (MI:MDBI) which is in turn the top investor in Generali.

Intesa Sanpaolo is considering an all-stock bid for Generali, the country's biggest insurer with a market value of 22 billion euros ($23.65 billion), two sources said on Tuesday, in what would be among the industry's biggest deals in Europe.

Intesa Sanpaolo, Generali and UniCredit were not immediately available for comment. Shares in Generali closed up 8.21 percent on Tuesday.

© Reuters. FILE PHOTO:  The headquarters of Italy's biggest insurer Assicurazioni Generali is seen in Rome

($1 = 0.9301 euros)

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