Speculation of three-way merger with two Italian banks
The FT is speculating that Italian insurer Generali could be swallowed up as part of a three-way merger with two Italian banks.
It warns against it, reminding the company that Allianz and Fortis both regretted their banking links when the credit crunch happened.
The FT cites Italian newspaper reports that UniCredit and Mediobanca controlling shareholders are looking at a merger but adds that Generali would then be joined too.
