Please enable JS and disable any ad blocker Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world throwing its support behind an investor who has long been critical of the insurer’s chief executive officer At a meeting Wednesday UniCredit decided it will vote in favor of the candidates proposed by Francesco Gaetano Caltagirone signaling that Italy’s second-biggest bank is keen for a change of governance at Generali Thanks for visiting The use of software that blocks ads hinders our ability to serve you the content you came here to enjoy We ask that you consider turning off your ad blocker so we can deliver you the best experience possible while you are here Essential digital access to quality FT journalism on any device Complete digital access to quality FT journalism with expert analysis from industry leaders Complete digital access to quality analysis and expert insights complemented with our award-winning Weekend Print edition Terms & Conditions apply Discover all the plans currently available in your country See why over a million readers pay to read the Financial Times One of Generali’s biggest investors is considering challenging the reappointment of longstanding CEO Philippe Donnet in May and is weighing potential alternative candidates to lead Italy’s biggest insurer Three years ago Francesco Gaetano Caltagirone an Italian construction and publishing billionaire with a 6.9% stake in Generali led a failed attempt to replace Donnet who had backing from the insurer’s board and its biggest shareholder Mediobanca Caltagirone, as well as the late billionaire Leonardo Del Vecchio, has criticized Donnet, at the helm of the insurer since 2016, for failing to grow Generali sufficiently More recently the two investors expressed reservations about a proposed asset management joint venture between Generali and France’s BPCE over concerns about the influence the French side could have in the partnership Caltagirone has not yet decided on his strategy at a shareholder vote on May 8 to elect a new Generali board and could still opt not to nominate a new CEO candidate he is considering proposing alternative candidates including current Enel CEO Flavio Cattaneo who in 2022 was appointed as a Generali director among Caltagirone’s representatives Cattaneo is expected to be put forward again by Caltagirone as a director proposing him as a candidate for CEO would be more problematic given his current role A spokesperson for Enel said his current mandate at Enel does not expire until 2026 “therefore the Enel CEO is not free to assume other roles.” “This rumor is totally groundless as well as destabilizing also taking into account that Enel is a listed company,” the Enel spokeperson said There are similar issues with two other candidates who are under the attention of Caltagirone Caltagirone has good relations with national postal service Poste Italiane CEO Matteo Del Fante and Rome utility Acea boss Fabrizio Palermo adding he is considering either as a replacement for Donnet Acea and Caltagirone all declined to comment Donnet has said he is ready to stay on for another term he is not being put forward by Generali’s board after Italy’s government changed corporate rules on succession making it harder for an outgoing board to nominate candidates The uncertainty over Generali’s leadership comes as top shareholder Mediobanca faces a hostile takeover bid by Monte dei Paschi di Siena (MPS) a state-backed bank in which Caltagirone built a stake since November Mediobanca flagged the cross-shareholdings among MPS Caltagirone and the heirs of Del Vecchio together own 17% of Generali Caltagirone and Del Vecchio were defeated in a shareholder vote after putting forward former Generali executive Luciano Cirina as their CEO candidate In a surprise move that gives CEO Andrea Orcel weight in the potential clash between Mediobanca and Caltagirone UniCredit has disclosed a 4.1% equity stake in Generali Gianluca Semeraro; Writing by Valentina Za; Editing by Giselda Vagnoni and Elaine Hardcastle) Photograph: Generali CEO Philippe Donnet; photo credit: Generali Please tell us what we can do to improve this article Get the insurance industry's trusted newsletter Δdocument.getElementById( "ak_js_1" ).setAttribute( "value" Connecting decision makers to a dynamic network of information Bloomberg quickly and accurately delivers business and financial information Thanks for visiting ! The use of software that blocks ads hinders our ability to serve you the content you came here to enjoy. We ask that you consider turning off your ad blocker so we can deliver you the best experience possible while you are here. The partnership offers few economic advantages and would effectively “dismantle” Generali Caltagirone said in an interview with Il Sole 24 Ore published on Sunday Thanks for visiting UniCredit SpA plans to support a minority list of board candidates at Assicurazioni Generali SpA aligning with investor Francesco Gaetano Caltagirone a long-time critic of the insurer’s chief executive UniCredit agreed to vote in favour of the list submitted by Caltagirone The move suggests the bank is open to changes in Generali’s governance A spokesperson for UniCredit declined to comment Support from the Milan-based lender could strengthen Caltagirone’s position at Generali He has previously attempted to remove CEO Philippe Donnet and opposed an asset management agreement announced earlier this year UniCredit is also pursuing a potential acquisition of Banco BPM SpA in which Caltagirone holds a minority stake increased its stake ahead of the shareholder meeting and now holds 6.5% of the voting rights The bank also reported owning an additional 0.2% not deposited for voting Shareholders met in Trieste on Thursday to elect a new board for a three-year term The vote follows ongoing tensions between management and key investors while on the other are the families of the late Leonardo Del Vecchio and Caltagirone the second- and third-largest shareholders Both sides proposed competing slates of candidates Mediobanca’s list includes Donnet and chairman Andrea Sironi Caltagirone’s list does not include candidates for the CEO or chair roles but could gain an equal number of seats depending on the outcome of the vote Disagreements have escalated this year following Generali’s agreement with French banking group BPCE to merge their asset management operations The deal aims to create one of Europe’s largest asset managers Some board members aligned with Caltagirone have voiced opposition makes up a significant portion of his portfolio He and the Del Vecchio family are also large shareholders in Mediobanca and Banca Monte dei Paschi di Siena SpA and are advocating for a merger between the two banks to form a third major Italian lender Mediobanca’s leadership has resisted that plan which retains a substantial stake in Monte Paschi Rome has also raised concerns over Donnet’s asset management deal with BPCE a position echoed by board members backed by Caltagirone Government involvement has also complicated UniCredit’s plans to acquire Banco BPM the bank indicated that government-imposed conditions could pose challenges for the transaction Generali Chief Executive Philippe Donnet secured shareholder support on Thursday to stay in the job for another three years after he struck a landmark asset management deal that irked both a major investor and the Rome government The vote hands a victory to top shareholder Mediobanca over the second- and third-largest investors who together own 17% of the insurer and 27% of Mediobanca itself the holding company of late Ray-Ban billionaire Leonardo Del Vecchio and construction magnate Francesco Gaetano Caltagirone – three years ago lost another shareholder vote to Mediobanca Italian Businessman Caltagirone Raises Stake in Generali to 8%, MF Daily Says other battlefronts have emerged in the clash between Mediobanca and Delfin-Caltagirone posing a new threat for the relations between Mediobanca and Generali which is Europe’s fourth-largest insurer comes amidst a wave of consolidation in Italian finance and it has implications for other takeover battles currently unfolding In a surprise move that is seen aiding its buyout offer for Banco BPM UniCredit sided with Caltagirone on Thursday UniCredit Holds Stake of Between 6-7% in Generali, Source Says Caltagirone only won three board seats and Mediobanca 10 leaving the balance of power within the board unchanged Caltagirone is close to conservative Prime Minister Giorgia Meloni whose government has thrown a spanner in the wheels of UniCredit’s bid for BPM with a set of conditions has led Italy’s biggest insurer since 2016 with Mediobanca’s support said he did not have an alternative CEO to propose but he could gain enough board seats to stop the “wretched” asset management deal Generali in January signed a non-binding accord with French bank BPCE to combine their asset management units – Generali Investment Holding (GIH) and Natixis Investment Managers – to create Europe’s biggest asset manager by revenue Facing mounting criticism over a deal which needs government approval Donnet has said the new board would not ignore opposition from Rome if that persisted Generali Won’t Fight Italy Government Over Natixis Deal, CEO Tells Paper Mediobanca, which enjoys the backing of institutional investors, secured 52.4% of preferences in Thursday’s vote and Caltagirone 36.8%. Attendance stood at 68.7%. Institutional investors hold almost a third of Generali, retail investors nearly one fifth. Besides UniCredit and Delfin, Caltagirone had the backing of banking foundation CRT, while Italy’s Benetton family is abstaining. The Natixis deal alarmed Meloni’s government fueling worries it could divert Italians’ savings away from the country’s large public debt. Strengthening his ties with the government, Caltagirone in November became a shareholder in bailed-out bank Banca Monte dei Paschi (MPS), alongside Delfin, when the government sold a stake. Having since acquired a near 20% combined stake in the Tuscan bank, Delfin and Caltagirone last week helped MPS to secure ample shareholder support for a hostile bid to take over Mediobanca. The bid is seen as the next showdown in the long-running rift between Mediobanca and Delfin-Caltagirone. (Reporting by Gianluca Semeraro in Trieste and Valentina Za in Milan; editing by Sharon Singleton) Thank you! 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Required fields are marked * Δdocument.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); positioning him for more influence in the wave of dealmaking that’s washing over the country’s financial services industry according to a regulatory filing published by the Italian stock exchange regulator Consob on Monday Our business is closely involved in people lives We ensure residents receive essential services for their daily life Our one objective: to create value for the people and the community in which we operate Acea sees innovation as the driving force to become more efficient to raise the quality of life for our customers to improve services for the residents and the community Acea has used all this to create a new culture of innovation: an open culture Our Group serves local communities and their citizens We are fully aware of our role of responsibility towards our stakeholders for our major economic This is why our Sustainability Plan is part and parcel of our Business Plan discover the events and follow us on our social network pages and talent development: we tell the story of Acea through our people Alessandro Caltagirone has been a member of the Acea Board of Directors since 27 April 2017 He is also Subject-Matter Expert in “Business Administration Budget and Business Plan” at the Sapienza University of Rome © Acea Spa - P.le Ostiense 2 - 00154 Roma - Tel 06 57991 - P.IVA 05394801004 Discover the latest news and initiatives of the Acea Group Visit the virtual museum about the history of the Acea Group The channel for the commercial requests on land urbanisation Acea turns the spotlight on the Rome Film Festival 2023 Acea is in the "Gold class" in the .trust research Read more about our culture of inclusiveness A branch of Banca Monte dei Paschi di Siena SpA in Siena Two wealthy families are building their influence as a wave of banking deals sweeps across the country XLinkedInEmailLinkGiftFacebookXLinkedInEmailLinkGiftBy Sonia SirlettiJanuary 17 2025 at 12:00 AM ESTBookmarkSaveTwo of Italy’s most prominent billionaire clans are emerging as key power brokers in the biggest reshaping of the country’s banking industry for more than a decade who control Ray-Ban maker EssilorLuxottica SA and construction tycoon Francesco Gaetano Caltagirone have both built big stakes in Banca Monte dei Paschi di Siena SpA the once-troubled bank set to play a pivotal role in the M&A wave the families now wield a combined €15 billion of financial services investments in Italy — and plan to make their voices heard as consolidation accelerates Mediobanca SpA has proposed new terms for CEO Philippe Donnet and Chairman Andrea Sironi signaling support for the company’s leadership ahead of a potential challenge from dissenting investors later this year Mediabanca, which holds a 13% stake and is the largest investor in Assicurazioni Generali SpA (Generali) announced on Friday that it has submitted a list of 12 candidates the nominated board members have overseen results that exceeded initial expectations citing “double-digit” earnings growth and shareholder returns “the highest among the company’s main peers.” Generali’s annual general meeting is scheduled for April 24 where shareholders will vote on the board’s renewal Mediobanca has previously supported Donnet in similar votes while two major investors—the families of the late Leonardo Del Vecchio and Francesco Gaetano Caltagirone—have opposed his leadership Donnet has led Generali for nearly nine years during which he has strengthened the company’s finances and expanded into more profitable product areas through acquisitions Caltagirone and the Del Vecchio family have previously sought to influence Generali’s strategy leading to conflicts with senior management and Mediobanca They argue that Mediobanca’s influence over Generali has hindered the insurer’s ability to capitalize on opportunities An attempt by Caltagirone to remove Donnet was unsuccessful three years ago as was a joint effort to oust Mediobanca CEO Alberto Nagel The Del Vecchio family holds a 9.9% stake in Generali through its holding company Delfin Both are also significant shareholders in Mediobanca Tensions between Generali’s management and the billionaire investors have been further heightened this year over the insurer’s agreement with French banking group BPCE to merge their investment units aiming to create Europe’s second-largest asset manager Mediobanca decided to submit its own slate of candidates after Generali’s board opted not to compile one citing regulatory uncertainty stemming from a law that grants shareholders greater influence over board appointments Caltagirone is reportedly considering presenting a list of six candidates for the Generali board which is unlikely to include nominees for the CEO or chairman roles An Italian fund manager association has put forward a separate list with four candidates Generali’s board consists of 13 members up to nine members are elected from the list receiving the most shareholder votes while the remaining four are selected proportionally from other lists that meet the minimum voting threshold UniCredit SpA’s role in the vote has drawn attention after CEO Andrea Orcel revealed that the bank has acquired a significant stake in Generali While Orcel has described the holding as a financial investment it could provide leverage in other banking transactions involving the Del Vecchio and Caltagirone families Due to recent events, you can now leave online condolences with each obituary posted on the Kutis Funeral Home website. COVID-19 Funeral Assistance – FEMA is now helping those that have lost a loved one from COVID-19. Click HERE to review the information on eligibility and requirements on the COVID-19 Funeral Pietrina was born in Sicily and immigrated to the United States at age 7 in 1955 Her family made their home on “the Hill” in St Louis and she embraced her new American life while keeping her Italian traditions and roots very much alive She graduated from Southwest High School and then went on to learn the cosmetology trade and her clients quickly became close and lifelong friends Pietrina married her husband Richard (Rich) in 1970 and they began their married life overseas in Germany as he was stationed overseas during his Army service Pietrina was a very loving and generous person and easily made friends with anyone she met She was close with her 5 siblings all throughout her life and loved travelling the world with her sisters She lived life as a celebration and always had a huge smile and infectious laugh She loved celebrating the holidays and would often be found in the kitchen making Caponatas at Easter and Italian fig cookies and biscotti at Christmas which would often inspire people passing by to stop and comment on how impressive it was Pietrina enhanced the beauty of all that was around her Pietrina’s greatest accomplishment was her family with her husband Rich over 50 years of marriage Her biggest joy later in life was her grandchildren – she loved travelling and watching movies with them and being a close part of their lives and all of her grandchildren loved her dearly and zest for life will be missed greatly by all Calogero and Liboria (nee Di Stefano) Caltagirone her sister and brother-in-law Margaret and Kenneth Jesuit Pietrina is survived by her children Anthony (Rachel) Palmisano of Fenton her grandchildren Noah and Grace Greathouse and Jack and Andrew Palmisano; her brother Philip (Joann) Caltagirone of Fenton MO; her brother Victor (Donna) Caltagirone of St MO; her brother-in-law Charles Jahneke of St MO; her sister-in-law Cheryl Caltagirone of St MO; Godson David (Anne Poston) Jesuit of Mt MI; Goddaughter Kathryn (Peter) Bruntrager of Webster Groves SERVICES: Visitation will be held on Monday 2024 from 4 to 8 pm at Kutis Funeral Home in Affton Funeral mass will be held at Sacred Heart Valley Park on Tuesday Private burial will follow at Jefferson Barracks for the immediate family at a later date Any memorial gifts may be made to the American Cancer Society Our deepest and sincere condolences to Anthony and Lisa and their families We enjoyed our time with her and her family Hucky and Annie and had the biggest smile each time she saw them During this difficult time we hope you find strength and peace during the next days Aunt Pat will always be in our thoughts and hearts I know the two of have loved your precious Mom all your life I first met your Mom when my daughter Julie was a flower girl in your parents wedding May the entire family find peace in knowing the pain is over and they are at peace your mom was one of the sweetest and most loving people that I have ever meet but you guys are in my thoughts and prayers For personalized and affordable funeral arrangements choose Kutis Funeral Home - a family-owned establishment serving St 2906 Gravois Avenue, St. Louis, MO 63118314-772-3000 10151 Gravois Road, St. Louis, MO 63123314-842-4458 5255 Lemay Ferry Road, Mehlville, MO 63129314-894-4500 Free NewsletterUK Join the newsletter that everyone in finance secretly reads Francesco Gaetano Caltagirone is stirring Italy's financial landscape driving key mergers and acquisitions through strategic investments in banks and media amidst government reforms with his media empire extending his influence across Italy's corporate and political spheres For markets: Strategic stakes shape mergers Caltagirone's investments embed him in Italy's banking consolidation scene steering potential mergers involving UniCredit With key stakes in Monte dei Paschi di Siena his influence over Italy's financial reformation is significant especially as mergers remain a primary growth tactic The bigger picture: Public reform drives private change Corporate governance shifts aligned with Caltagirone's vision have been executed by Giorgia Meloni's government This nexus of political and financial strategy is reshaping Italy’s economic terrain emphasizing government policy's repercussions on private sector dynamics and potentially setting models for other European markets It’s hard to pick the right individual stocks It’s even harder to pick the right work shirt when the subway is sweltering hot So consider your wardrobe a fund and Luca Faloni the active manager the menswear company knows its way around luxurious fabrics fine Italian craftsmanship and making investment-worthy staples So here are the finest shirts Luca Faloni recommends for your style portfolio: Diversify your wardrobe: take your pick (if you can bear to choose between them) here. Theodora Lee Joseph, CFA The Great Wealth Transfer Is Coming – Here’s How To Profit From It Stéphane Renevier, CFA Markets Could Pick A Direction This Week – Here's Why Jonathan Hobbs, CFA Why GameStop Might Actually Be Worth A Look Right Now Theodora Lee Joseph, CFA Political Risk Is Part Of A Stock’s Value Now – And, No, You Can’t Afford To Tune It Out Stéphane Renevier, CFA The US Added More Jobs Than Expected, Sending American Stocks UpREAD NEXTNews Skechers Goes Private In $9.4 Billion Deal With 3G Capital Finimize Newsroom Edgewell Braces For 2025 Challenges As Tariffs Bite Finimize Newsroom One Common Hedge-Fund Trade Could Bring Down Financial Systems – And It Nearly Backfired This Week Russell Burns A Defensive Portfolio Prepared For The Wealth Effect’s Reversal Stéphane Renevier, CFA Tariffs Are Spooking Investors Into Panic-Selling – Here’s What to Do Instead Reda Farran, CFA Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap Russell Burns Threats Are Rising. So Here’s How To Invest In Cybersecurity.Theodora Lee Joseph, CFA Apple And Amazon’s Results Were Sturdy, But Their Future Looks A Little Less So Theodora Lee Joseph, CFA Disclaimer: These articles are provided for information purposes only an opinion about whether to buy or sell a specific investment may be provided The content is not intended to be a personal recommendation to buy or sell any financial instrument or product or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience your financial situation or your investment objectives You may not get back all the money that you invest The investments referred to in this article may not be suitable for all investors an investor should seek advice from a qualified investment advisor This article may contain AI-edited content While efforts have been made to ensure accuracy AI may not capture the nuances of the subject matter resulting in errors or inconsistencies A group of Italian fund managers said on Friday it would put forward four candidates for the new board of Generali adding to uncertainty over the outcome of a key shareholder vote at the country’s biggest insurer A shareholder clash at Generali is unfolding amid a wave of consolidation reshaping Italian finance Generali’s investors will vote in a new board on April 24 with top shareholder Mediobanca expected to propose another term for CEO Philippe Donnet as part of a slate of board nominees Donnet has previously been opposed by the insurer’s second- and third-largest shareholders Read more: Billionaire Generali Investor Weighs Candidates to Challenge CEO Donnet After a prolonged internal debate on whether to keep out of the fray which would likely have helped Mediobanca’s slate of nominees the investors opted to propose their own candidates The decision was steered by fund management representatives of Intesa Sanpaolo as Italy’s biggest bank pushed for Generali’s wider investor base to have a say Donnet weathered a leadership challenge from Generali’s second- and third-largest investors: Italian tycoons Leonardo Del Vecchio and Francesco Gaetano Caltagirone Generali’s institutional investors voted en masse for Donnet who was then the CEO candidate proposed by the board Generali’s board has not proposed any candidates after Italy changed corporate governance rules that Caltagirone had criticized leaving to Mediobanca the task of putting forward Donnet To avoid picking sides in the shareholder battle institutional investors at the AGM could favor the Italian fund managers’ proposal While Caltagirone is not planning to challenge Donnet directly next month’s vote could produce an unwieldy board Caltagirone is expected to propose up to six nominees for Generali’s 13-member board the split of board seats could create a deadlock up to nine directors are selected from the list receiving the most votes The remaining four are chosen proportionally from the other two slates UniCredit has recently bought 4.18% of Generali and the bank has not disclosed its voting strategy Intesa is keeping out of Italy’s M&A frenzy but bankers say Generali is such a key asset in the consolidation process that neither Intesa nor UniCredit can afford to disregard the insurer’s fate (Editing by Alvise Armellini and Mark Potter) This website is using a security service to protect itself from online attacks The action you just performed triggered the security solution There are several actions that could trigger this block including submitting a certain word or phrase You can email the site owner to let them know you were blocked Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page GENERALI : Strategic and Financial Implications of Mediobanca's Bid for Banca Generali Monday - Friday 9am-12pm / 2pm-6pm GMT + 1 All financial news and data tailored to specific country editions About 160 countries and 140 companies pledged to combat the potent greenhouse gas yet releases from the fossil fuels sector remain near record highs. The townhome-like building still looks just as it did back in the '80s when owner Vincent Caltagirone opened up shop at 59 E pizza wasn’t something that was in his blood and I loved watching people make pizzas,” Caltagirone said stuck with it – and it scaled from there.” Following years of trial and error in his pizza-making journey 25-year-old Caltagirone opened up Golden Crust in 1984 They started out selling Neapolitan style pizza The restaurant name was inspired by the Golden Nugget casino and hotel in Atlantic City Caltagirone bought the building next door and created an adjoining doorway through the pizza shop's kitchen that led to Vincenzo's an upscale BYOB Italian restaurant that now serves as Golden Crust's dining room When the restaurant acquired a liquor license in 2010, the business model started to shy away from the upscale Italian restaurant and established a taproom in the back of the restaurant. Now, Golden Crust serves over 40 beers on tap, made locally and across the country. And their rotating tap list can be found online at untappd.com/v/golden-crust-pizza-and-taproom. The menu has grown throughout Golden Crust's 40-year run thick-style crust baked in a sheet pan and cut into eight large squares was added on the menu in the mid-'90s You can even order a Mini Bite which comes with four slices Giant sub sandwiches served on Italian rolls delivered fresh daily from Philadelphia California and Italian style are also on the menu which serves as an event space for large parties and before that it was the Caltagirone home where he lived with his wife Maria and their sons for six years before moving their growing family Golden Crust has developed a loyal following through the years, and when it was announced on social media that the restaurant hit a milestone Many congratulated the business; some expressed that Golden Crust is their go-to spot for weekend pizza others call it their favorite restaurant in Red Lion "We are a family-run business," said Caltagirone who works with his wife as well as his sons and daughters doing what we have to do to give the demand that our customers ask for "This business has put me through a lot of birthdays weddings − I'm very fortunate for the community supporting our family business." "He said I never had to work a day in my life," joked Maria who Caltagirone met 41 years ago in Montreal While she found herself working more than she might have initially expected her smile lit up while talking about the business and her family His son Michael expressed his joy for working side-by-side with his parents since childhood It (40 years) makes me happy for my parents who put a lot of work in here − it's been a blessing." Caltagirone said his four children expressed interest in taking over the restaurant some day and continuing their parents' legacy MEDIOBANCA : MB's alternative proposal to BMPS's hostile offer Mediobanca relaunches banking battle with bid for Banca Generali Banking M&A: Italy's Monte Paschi Makes 13.3 Billion Bid for Mediobanca The current capital is 73.59% and will have to vote on the capital increase needed by Monte dei Paschi to finance its hostile takeover bid of €12.5 billion at current prices to acquire Mediobanca the other main shareholders of Monte dei Paschi and the pension funds for doctors Enpam (which has just under 2%) and engineers and architects Inarcassa (which has approximately 3%) are also expected to vote in favor of the increase can be added to the shares of institutional investors who have expressed their support for the increase The vote on the capital increase requires a qualified majority of two-thirds of the capital and if the shares that vote on this resolution at the extraordinary meeting are these MPS should have received the green light to proceed with the operation Monte dei Paschi announced in January a public exchange offer for all shares in Piazzetta Cuccia surprising investors with a bold move that pits the Tuscan bank which the Treasury saved from bankruptcy and relaunched against one of the most historic names in Italian finance The takeover bid is one of many hostile offers shaking up Italian finance after previously clearing their balance sheets of bad loans have enjoyed record profits in recent years thanks to rising interest rates and are now bracing for a slowdown in revenues as the ECB's monetary tightening comes to an end Alaska Broadband Office (ABO) announced the opening of the Alaska Broadband Grant Program Access and Deployment Grant from the National Telecommunications & Information Administration (NTIA) of which over $991 million will be made available for broadband infrastructure […] AK)— As healthcare costs continue to increase and Economic Development (DCCED) is proceeding with a comprehensive reform package concerning healthcare reimbursements DCCED and the Department of Health (DOH) formulated this approach to improve the affordability of health care for all Alaskans (JUNEAU) – The State of Alaska has completed its decennial review of the Community Development Quota (CDQ) groups and determined that all six have maintained or improved performance with respect to criteria outlined in the Magnuson-Stevens Fishery Conservation and Management Act of 2006 the Western Alaska CDQ Program is a federal fisheries […] AK) – To reduce administrative burdens on applicants for professional licenses and address the immediate need for expedited licensure Governor Mike Dunleavy has issued Administrative Order 335 directing the Department of Commerce Business and Professional Licensing (CBPL) to cease certain secondary functions and issue licenses to […] The numbers that emerged from the meeting also confirm the participation of the Ministry of Economy with 11,721 percent Banco Bpm with 5 percent and Anima at 3,99 percent The Caltagirone group's stake in Monte dei Paschi di Siena has increased to 9,96 percent of the capital thus becoming the second largest shareholder of the Sienese Institute This is the data that emerged during the meeting of Monte dei Paschi di Siena during the reading of the shareholdings exceeding 3 percent of the president's capital Nicholas Maione The numbers that emerged also confirm the participation of the Ministry of Economy and Finance with 11,721 percent The set of results “that we have achieved shows that our bank is more than ready to lead a new industrial development process that can create value immediately for the benefit of all shareholders and stakeholders” said the CEO of Monte dei Paschi di Siena speaking during the meeting regarding the capital increase for the public exchange offer on Mediobanca Banca Monte dei Paschi di Siena believes that the public exchange offer on Mediobanca "is already adequate and there is a firm belief that this is a great opportunity for the shareholders of both entities with a strong growth profile both in terms of profits and dividends" states the Sienese bank no decisions have been made regarding any increases in the consideration for the offer In the event that such a decision were to be made the various hypotheses and the related implications will be carefully evaluated providing the market with the most complete and transparent information in this regard Read also other news on Nova News Click here and receive updates on WhatsApp Follow us on the social channels of Nova News on Twitter, LinkedIn, Instagram, Telegram Banca Monte dei Paschi di Siena offices in Siena Among those listening to his pitch were Francesco Gaetano Caltagirone the billionaire owner of the Messaggero newspaper founders of Ray-Ban maker EssilorLuxottica SA according to people familiar with the matter Giorgetti also spoke to executives at Banco BPM SpA and got the green light from the Bank of Italy and European Central Bank UniCredit-Commerzbank: After the aggression Italy’s biggest insurer Generali reported on Thursday a record profit for 2024 ahead of a key shareholder vote next month on the reappointment of CEO Philippe Donnet historically a bulwark of Italy’s financial system also said it could step up purchases of domestic government bonds which may be significant as it seeks to win Italian government approval for its planned tie-up with France’s Natixis Investment Managers Generali said its growing life portfolio could warrant larger Italian government bond holdings which it holds as reserves against liabilities Generali held 35.6 billion euros ($38.67 billion) in Italian BTP bonds at the end of 2024 “Our BTP portfolio is linked to our insurance liabilities in Italy and it will always be the case,” Donnet told analysts Jefferies analysts said they expected “the stock of BTPs will grow with reserves but the proportion of assets allocated will not.” Generali’s role as a large buyer of domestic bonds has raised concerns in Rome about the tie-up with BPCE-owned Natixis The government wants further guarantees that Generali will remain in full control of allocating savings collected in the country The tie-up has also drawn criticism from two major shareholders: construction tycoon Francesco Gaetano Caltagirone and Delfin the holding company of late Ray-Ban owner Leonardo Del Vecchio The two shareholders are also at odds with Mediobanca over the makeup of the insurer’s board and are set to face off at the annual general meeting on April 24 Donnet overcame a challenge to his leadership brought by Caltagirone and Delfin Caltagirone is not planning to back an alternative CEO candidate but the AGM vote could still produce a fractured board Mediobanca has become a takeover target for state-backed Banca Monte dei Paschi BMPS.MI which since November has Caltagirone and Delfin among its shareholders Generali said its adjusted net profit rose 5.4% to 3.77 billion euros last year Both figures set new records for the insurer and were in line with the company-provided analyst consensus Generali’s market capitalisation was 15 billion euros now it’s 50 billion euros,” Donnet said “The growth path is not over.” reflecting the impact of an acquisition and of a share buyback program Generali proposed hiking its dividend per share by 11.7% to 1.43 euros (Reporting by Gianluca Semeraro; editing by Valentina Za symbol of the Italian insurer Generali since 1848; Photo credit: gpriccardi via Adobe Stock