Caltagirone advises MPS against selling Generali stake
Francesco Gaetano Caltagirone said Monte dei Paschi should not sell its stake in Generali. He argued the insurance component is a valuable asset for the bank.
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Francesco Gaetano Caltagirone, the second-largest shareholder of Banca Monte dei Paschi di Siena, urged the lender on Thursday to retain its stake in Generali. The bank holds the position via its ownership of Mediobanca, which controls 13% of the insurer. Retaining the stake preserves an insurance revenue stream that Caltagirone claims competitors are actively seeking.
