MILAN May 30 Italy's biggest insurer Generali
said on Tuesday it sold 3.04 percent of a stake in
Intesa Sanpaolo it had bought back in January to fend
off a possible hostile takeover from the country's top retail
In January Intesa said it was considering a potential tie-up
with Generali but has since abandoned the plan.
Generali still has a marginal shareholding in Intesa as a
routine financial investment, the insurer said in a statement,
without specifying how big the stake was.
In February the insurer said it held 3.4 percent in Intesa
(Reporting by Giulia Segreti, editing by Agnieszka Flak)