Generali blocks takeover by acquiring Intesa stake

Generali has taken an extraordinary step to block rumoured
takeover attempts from Italian bank and rival life insurer Intesa
San Paolo alongside Germany's Allianz.
In a statement released after trading ended in Milan, Generali
revealed that it had acquired a 3.01 percent stake in the potential
Italian acquirer.
Under Italian law, the move effectively blocks Intesa from
making a bid because its voting rights in Generali would be capped
at 3 percent.
The country's cross-shareholding restrictions r