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Caltagirone Urges MPS to Keep Generali Stake
Description
Francesco Gaetano Caltagirone, Banca Monte dei Paschi di Sienas second largest shareholder, opposes selling the banks stake in Generali, Italys largest insurer. Caltagirone, who also has a significant stake in Mediobanca, which owns a 13% chunk of Generali, argues that Generalis insurance capabilities are crucial for MPS and should not be let go. The statement comes after MPS CEO Luigi Lovaglio hinted at potential sale options, sparking debate about the banks future strategy.
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