UniCredit’s New Investment in Generali Amidst Banco BPM and Commerzbank Takeover Efforts

Milan: UniCredit has reportedly opened a new front amid its takeover bid for Banco BPM and its stake in Commerzbank with an investment in Generali. The lender has worked to build a 4% stake in top Italian insurer Generali, financial daily Il Sole 24 Ore has reported.

According to Ansa News Agency, well-informed sources said the lender had been working to build the small stake over time and there was nothing strategic behind the operation. A UniCredit spokesperson stated that the lender “is focusing on the two operations Commerz and Banco BPM”.