Generali's Intesa stock purchase sends shares up 9%

Shares in Generali rose 9 percent to EUR15.48 ($16.62) as of
11:15 UK time today, after a stock market manoeuvre by the
Trieste-based company on Monday (23 January) gave weight to the
latest round of bid speculation.
Generali disclosed late yesterday that it had bought a 3.01
percent stake, or 505 million shares, in Italian bank Intesa
Sanpaolo through a securities lending transaction. The holding was
worth EUR1.2bn ($1.29bn) based on Monday's closing price.
The share price surge followed the...