binance left Coinmarketcap net_left adver left
Detail

Generali battle heats up as No.2 investor quits board

By Stefano Bernabei, Gianluca Semeraro and Claudia Cristoferi MILAN (Reuters) -A boardroom battle at Generali (MI:GASI) has escalated after the No.2 investor in Italy's biggest...
Generali battle heats up as No.2 investor quits board © Reuters. FILE PHOTO: The logo of insurance company Generali is seen on the company headquarters in Budapest, Hungary, November 29, 2019. Picture taken November 29, 2019. REUTERS/Tamas Kaszas/File Photo

By Stefano Bernabei, Gianluca Semeraro and Claudia Cristoferi

MILAN (Reuters) -A boardroom battle at Generali (MI:GASI) has escalated after the No.2 investor in Italy's biggest insurer resigned from the board in a challenge to the reappointment of CEO Philippe Donnet.

Donnet, who is seeking a new mandate as CEO, is at the centre of a struggle between Generali's biggest investors, including construction and newspaper magnate Francesco Gaetano Caltagirone, who on Thursday stepped down from the board.

Caltagirone has teamed up with eyewear billionaire Leonardo Del Vecchio, the insurer's third-largest shareholder, to challenge the influence investment bank Mediobanca (OTC:MDIBY), Generali's biggest investor.

Caltagirone holds 8.04% of Generali, trailing Mediobanca's near 13% stake. Del Vecchio is the No.3 investor with nearly 7%.

The two tycoons blame Mediobanca, which reaps a sizeable share of its income from Generali, for holding back the insurer's expansion, people close to the matter have said.

Donnet, who is backed by Mediobanca and a majority of board members, in December announced Generali's first buyback in 15 years and higher dividends in a bid to keep his job.

With Italy's financial sector in consolidation mode, the shareholder tensions are fuelling speculation about possible M&A moves involving both Generali and Mediobanca.

Del Vecchio, 86, in 2019 became Mediobanca's biggest shareholder. Caltagirone has also recently built a stake in Mediobanca.

Caltagirone and Del Vecchio in February are set to present their own CEO candidate and an alternative strategy for the insurer, a person close to the matter told Reuters on Friday.

Caltagirone began his offensive in April when he snubbed a general meeting to approve Generali's results.

In a sign of growing hostility, he voted against Donnet's new strategy in December and has not attended board meetings lately, a second person with knowledge of the matter said.

He joined forced with Del Vecchio in September and their consultation pact over Generali, which includes also smaller investor CRT, controls a stake of more than 16% in the insurer.

The pact remains intact after Caltagirone's resignation, a third source close to Del Vecchio added.

To carry more weight at a general shareholder meeting in April to appoint a new board, Mediobanca has borrowed shares to reach a 17% voting stake.

But around 35% of Generali's share capital is in the hands of institutional investors and small savers hold another 23%, meaning their votes are likely to decide the outcome.

ig right nyse right Neteller adver right
APPROVED BROKERS
rakuten_main right top net_home_top ig_main right top Binance _ main right top fbs_main right top tifia_main right top
18-01-2022 10:45:44 (UTC+7)

EUR/USD

1.1351

-0.0056 (-0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

EUR/USD

1.1351

-0.0056 (-0.49%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (9)

GBP/USD

1.3584

-0.0061 (-0.45%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

USD/JPY

114.58

-0.01 (-0.01%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.7193

-0.0017 (-0.24%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

USD/CAD

1.2517

-0.0002 (-0.02%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (3)

EUR/JPY

130.07

-0.65 (-0.50%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

EUR/CHF

1.0405

-0.0019 (-0.18%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (9)

Gold Futures

1,818.85

+2.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.547

+0.629 (+2.74%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Copper Futures

4.4270

+0.0065 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

Crude Oil WTI Futures

84.97

+1.67 (+2.00%)

Summary

Neutral

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (1)

Sell (7)

Brent Oil Futures

87.64

+1.16 (+1.34%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Natural Gas Futures

4.316

+0.054 (+1.27%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

US Coffee C Futures

238.78

-0.87 (-0.36%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,268.05

-34.09 (-0.79%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (3)

S&P 500

4,601.84

-61.01 (-1.31%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (5)

Sell (2)

DAX

15,810.15

-123.57 (-0.78%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

FTSE 100

7,574.43

-36.80 (-0.48%)

Summary

Neutral

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (3)

Sell (5)

Hang Seng

24,112.78

-105.25 (-0.43%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,120.55

-41.00 (-1.90%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (2)

Sell (4)

IBEX 35

8,785.68

-53.02 (-0.60%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (8)

BASF SE NA O.N.

68.130

-0.010 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

51.84

-0.98 (-1.86%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Allianz SE VNA O.N.

226.05

-1.00 (-0.44%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Adidas AG

255.91

+3.26 (+1.29%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (10)

Deutsche Lufthansa AG

7.146

-0.095 (-1.31%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

Siemens AG Class N

143.18

-2.82 (-1.93%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (6)

Deutsche Bank AG

11.968

-0.050 (-0.42%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (3)

 EUR/USD1.1351↑ Sell
 GBP/USD1.3584↑ Sell
 USD/JPY114.58↑ Sell
 AUD/USD0.7193↑ Buy
 USD/CAD1.2517Buy
 EUR/JPY130.07↑ Sell
 EUR/CHF1.0405↑ Sell
 Gold1,818.85↑ Buy
 Silver23.547↑ Buy
 Copper4.4270↑ Buy
 Crude Oil WTI84.97Neutral
 Brent Oil87.64↑ Buy
 Natural Gas4.316↑ Buy
 US Coffee C238.78↑ Sell
 Euro Stoxx 504,268.05Buy
 S&P 5004,601.84Buy
 DAX15,810.15↑ Buy
 FTSE 1007,574.43Neutral
 Hang Seng24,112.78↑ Buy
 Small Cap 20002,120.55Sell
 IBEX 358,785.68↑ Sell
 BASF68.130↑ Buy
 Bayer51.84↑ Sell
 Allianz226.05↑ Sell
 Adidas255.91↑ Sell
 Lufthansa7.146↑ Sell
 Siemens AG143.18Sell
 Deutsche Bank AG11.968Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,115/ 6,155
(-5/ -5) # 1,167
SJC HCM6,110/ 6,170
(0/ 0) # 1,183
SJC Hanoi6,110/ 6,172
(0/ 0) # 1,185
SJC Danang6,110/ 6,172
(0/ 0) # 1,185
SJC Nhatrang6,110/ 6,172
(0/ 0) # 1,185
SJC Cantho6,110/ 6,172
(0/ 0) # 1,185
Cập nhật 18-01-2022 10:45:46
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,817.71-1.62-0.09%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2400024480
RON 95-II,III2390024370
E5 RON 92-II2291023360
DO 0.05S1838018740
DO 0,001S-V1873019100
Dầu hỏa1719017530
ↂ Giá dầu thô thế giới
WTI$85.45-0.06-0.07%
Brent$87.56+0.10.12%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.560,0022.870,00
EUR25.241,6226.656,50
GBP30.202,2531.491,85
JPY191,95203,20
KRW16,5120,11
Cập nhật lúc 18:54:36 18/01/2022
Xem bảng tỷ giá hối đoái
binance main right Fxpro Main Right aetos main right adver main right