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BRIEF-Mediobanca sticking to plan to sell 3 pct of Generali - CEO
February 9, 2017 / 7:47 AM / 10 months ago

BRIEF-Mediobanca sticking to plan to sell 3 pct of Generali - CEO

Feb 9 (Reuters) - The CEO of Mediobanca Alberto Nagel says in a call with journalists on second-quarter results:

* confirms plan to sell 3 percent of its stake in insurer Generali over plan period to remain with 10 percent stake

* Mediobanca has always supported growth at Generali through mergers and acquisitions and will continue to do so, though acquisitions must offer returns

* has no sign of any of the bank’s shareholders wanting to pull out, the bank has good relations with UniCredit

* expects a positive second half of its financial year, confirms dividend policy

* believes 20 billion euro state rescue fund for banks is enough and will stabilise the sector

* given the size of Italy’s bad loan problem, the Atlante fund runs the risk of a low probability of success Further company coverage: (Reporting by Milan newsroom)

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