November 20, 2018 / 6:52 PM / in 6 months

Banca Generali will invest in new BTP Italia bond - CEO to Reuters

FLORENCE, Nov 20 (Reuters) - Italian asset manager Banca Generali will invest in a new BTP Italia bond which is being offered this week, CEO Gian Maria Mossa told Reuters.

The bond has been largely shunned by retail investors in the first two days of the offer. They have one more day to buy it before professional buyers can step in on Thursday.

“Definitely,” Mossa said when asked if Banca Generali would buy the new bond. “It makes more sense to buy BTPs than the debt of some neighbouring country.”

He added that the firm’s clients were looking for ways to protect their savings and requested information over the possibility of holding money outside of Italy. (Reporting by Silvia Ognibene, writing by Valentina Za)

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