May 30, 2017 / 4:32 PM / 6 months ago

Italy's Generali sells 3.04 pct in Intesa Sanpaolo

MILAN, May 30 (Reuters) - 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 bank.

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 Sanpaolo.

Reporting by Giulia Segreti, editing by Agnieszka Flak

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below