Generali divests defensive Intesa stake

Generali has sold the 3.04 percent stake it purchased in Italian
bank Intesa Sanpaolo in February to fend off a takeover.
Shares in the Italian insurer slipped marginally shortly after the
start of trading, while Intesa also edged lower after Generali said
late yesterday it had divested the 510 million shares.
These were worth around EUR1.3bn ($1.45bn) at yesterday's
closing price of EUR2.55.
Generali also said it had terminated related hedging arrangements
it made on 17 February amid a mooted..