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Generali does not consider Intesa stake as strategic
April 27, 2017 / 10:43 AM / in 7 months

Generali does not consider Intesa stake as strategic

TRIESTE, Italy, April 27 (Reuters) - Assicurazioni Generali does not consider as strategic a 3 percent holding in Intesa Sanpaolo it bought to fend off a potential stake-building by the Italian bank, its chief executive said on Thursday.

Addressing shareholders at the annual general meeting, CEO Philippe Donnet said Generali would manage the Intesa stake - for which it spent 1 billion euros - in the same way it manages other financial assets.

Intesa said in January it was exploring the possibility of a tie-up with Generali but later dropped the idea.

Separately, Donnet said Generali does not intend to pour any more money into bank bailout fund Atlante.

Reporting by Gianluca Semeraro, writing by Valentina Za

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