Intesa Sanpaolo Confirms It Is Assessing Potential Tie-Up With Assicurazioni Generali

By Giovanni Legorano

ROME -- Italian bank Intesa Sanpaolo SpA said Tuesday it assessing a potential tie-up with Assicurazioni Generali SpA, as part of its strategy of growth in the insurance, asset management and private banking sector.

Intesa's statement follows two days of market speculation about its interest in Europe's third largest insurer, after Italian daily La Stampa first reported the news on Sunday.

The bank said that in line with its strategy its management normally assesses opportunities to strengthen its competitive position and its financial performance.

"These opportunities, including possible industrial combinations with Assicurazioni Generali, are currently being examined by the bank's management," Intesa said in a statement.

Write to Giovanni Legorano at giovanni.legorano@wsj.com

(END) Dow Jones Newswires

January 24, 2017 15:23 ET (20:23 GMT)

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