1155 GMT - Mediobanca's offer for Banca Generali has an attractive structure, being funded by a stake disposal, Keefe, Bruyette & Woods says in a research note. The Italian bank is offering to swap its stake in Assicurazioni Generali--in which it holds 13%--for Banca Generali--which the insurer owns a majority of. The transaction structure removes Mediobanca from the battles of control of Assicurazioni Generali on top of having a strong strategic and financial logic, analysts write. Two key investors with stakes in both companies had been at odds with Generali's management and also back Monte dei Paschi's hostile offer for Mediobanca. "We don't think this offer stops BMPS's offer for MB but we continue to think that offer has limited chance of success," they write. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 07:55 ET (11:55 GMT)
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