Generali: sells its stake in Intesa Sanpaolo.

(CercleFinance.com) - The Italian insurer Generali has sold almost all of the Intesa Sanpaolo shares it has acquired defensively when the bank was considering making a bid on the group at the start of the year.


"Generali then took the lead, thanks to a regulatory specificity in Italy in an attempt to block (takeover bid) approaches on the bank," analysts at Aurel BGC said this morning.

Therefore, 510 million shares of Intesa common stock were sold by Generali, i.e. 3.04% of the bank's total capital. Generali has also terminated the related hedging contract.


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