Italian bank merger ignites sector

Article Abstract:

Istituto Nazionale delle Assicurazioni SpA's (INA) becoming a core shareholder in Banca Nazionale del Lavoro SpA (BNL) has prompted merger talks in the financial services sector. Analysts believe that an alliance between BNL and Banco di Napoli is not far-fetched now that BNL is a major shareholder at INA. There are also talks that Banca di Roma and Banca Commerciale Italiana (BCI) will consolidate after an unsuccessful try in early part of 1998. Luca Comi, banking analyst at brokerage house Monte Paschi SIM in Milan, Italy, said the market is receptive at the moment in both BCI-Banca di Roma and BNL-Banco di Napoli.

Comment:

Its becoming a core shareholder in Banca Nazionale del Lavoro SpA prompts merger talks in the financial services sector

Commercial Banks, Commercial Banking, Asset sales & divestitures, Acquisitions & mergers, Banca Nazionale del Lavoro SpA, Istituto Nazionale delle Assicurazioni S.p.A.

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Lazard, Mediobanca back election of Generali Chief

Article Abstract:

Assicurazioni Generali SpA, the largest insurance company in Italy, re-elected Antonine Bernheim as chairman. Rival investment banks of Italy, Lazard Freres & Co. and Mediobanca, jointly supported Bernheim's reelection bid. Both banks are major shareholders in Assicurazioni Generali. Prior to the election, speculations were rife that Mediobanca would oppose the bid of Bernheim, who is also a senior partner of Lazard. Bernheim said he did not have any knowledge with regards to the rivalry between Lazard and Mediobanca on the strategy of Generali.

Comment:

Supported the re-election of Antonine Bernheim as chairmanof Assicurazioni Generali, the largest insurance company in Italy

Investment Banking and Securities Dealing, Strategy & planning, Investment Banking, Insurance, Insurance Carriers and Related Activities, Executive changes & profiles, Investment banks, Mediobanca S.p.A., Lazard Freres & Company L.L.C., Assicurazioni Generali S.p.A.

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