MILAN (Reuters) -Italian asset manager Banca Mediolanum sees no impact on its business whatever the outcome of merchant bank Mediobanca's bid for private bank Banca Generali, its CEO Massimo Doris
Banca Mediolanum Unaffected by Mediobanca's Bid for Banca Generali
MILAN (Reuters) -Italian asset manager Banca Mediolanum sees no impact on its business whatever the outcome of merchant bank Mediobanca's bid for private bank Banca Generali, its CEO Massimo Doris said on Tuesday.
Banca Mediolanum is one of the biggest shareholders in Mediobanca.
"Whether they merge or not does not affect Banca Mediolanum either way. We operate in a sector that is performing very well," Doris told television channel Sky TG24.
Mediobanca in April proposed buying Banca Generali from insurer Generali as it seeks to stave off a buyout bid from Monte dei Paschi di Siena (MPS).
Doris said proxy advisers were all in favour of the Mediobanca-Banca Generali deal, while they were split over MPS' bid for Mediobanca.
Under Italian corporate takeover rules, Mediobanca must seek shareholders' approval to pursue the Banca Generali deal, and has called a meeting for June 16 to vote on the plan.
(Reporting by Gianluca Semeraro, editing by Gavin Jones)
