UK markets closed
  • FTSE 100

    6,963.64
    -63.84 (-0.91%)
     
  • FTSE 250

    23,658.94
    +26.10 (+0.11%)
     
  • AIM

    1,275.74
    +3.60 (+0.28%)
     
  • GBP/EUR

    1.1711
    -0.0007 (-0.06%)
     
  • GBP/USD

    1.3737
    -0.0059 (-0.43%)
     
  • BTC-GBP

    34,514.64
    -900.40 (-2.54%)
     
  • CMC Crypto 200

    1,193.48
    -32.05 (-2.62%)
     
  • S&P 500

    4,432.99
    -40.76 (-0.91%)
     
  • DOW

    34,584.88
    -166.44 (-0.48%)
     
  • CRUDE OIL

    71.96
    -0.65 (-0.90%)
     
  • GOLD FUTURES

    1,753.90
    -2.80 (-0.16%)
     
  • NIKKEI 225

    30,500.05
    +176.71 (+0.58%)
     
  • HANG SENG

    24,920.76
    +252.91 (+1.03%)
     
  • DAX

    15,490.17
    -161.58 (-1.03%)
     
  • CAC 40

    6,570.19
    -52.40 (-0.79%)
     

Italy's Caltagirone ups Generali stake to just over 6%

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·1-min read
FILE PHOTO: The Generali logo is seen on the company's Tower, designed by Iraqi-British architect Zaha Hadidat, at the Milan's CityLife district
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

MILAN (Reuters) - Italian entrepreneur Francesco Gaetano Caltagirone has raised his stake in insurer Generali to just over 6% ahead of a board meeting this month where top management appointments are expected to be discussed.

Caltagirone, Generali's second largest investor, in April snubbed the company's AGM in a sign that he was unhappy with the balance of power among shareholders, sources told Reuters.

This week he added to his previous 5.96% stake by buying more than 1 million shares, or 0.07% of the insurer's total capital, through vehicle VM 2006, a filing with market regulator Consob showed.

Caltagirone, whose businesses span construction to publishing, also has a stake in Mediobanca, Generali's top investor with a 12.9% stake.

Trieste-based Generali is due to appoint a new board next spring and speculation has mounted over the future of CEO Philippe Donnet due to tensions among top shareholders.

(Reporting by Francesca Landini, writing by Giuia Segreti; editing by Jason Neely)

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting