, Columnist
Intesa's $65 Billion Question
It's the clear winner in Italian banking. Why put that in jeopardy with a Generali deal?
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Intesa Sanpaolo SpA’s interest in combining with insurer Assicurazioni Generali SpA has no obvious logic to it. If the lender has a cunning plan to make it work, it needs to reveal it.
For now, Intesa says simply that it’s considering “industrial combinations” with Generali. It cites a desire to expand in asset management, private banking and insurance. A full combination would be worth 61 billion euros ($65.5 billion) based on the pair’s market values on Friday before the idea leaked.