Generali open to industrial collaboration with Intesa Sanpaolo (translated)
18 FEB 2017
Assicurazioni Generali [BIT:G] is open to an industrial collaboration with Italian banking group Intesa Sanpaolo [BIT:ISP], Italian language daily Il Messaggero reported. The report cited Generali Chairman Gabriele Galateri di Genola who said that there was the possibility of industrial combinations with Intesa.
Genola's comments appeared to rule out any type of merger with Intesa. The item added, without citing sources, that Genola and CEO Philippe Donnet, as well as leading Generali shareholders, were not interested in industrial alliances in Generali's core insurance activities. The item said that this would restrict industrial alliances with Intesa to asset management and financial advisory services for retail customers.
Generali has a market cap of EUR 23.04bn.