People’s Bank of China buys 2% of Generali

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The People’s Bank of China has bought 2% of Italy’s insurer Assicurazioni Generali, according to both Reuters and the local trade press.

The Chinese central bank is now the fifth shareholder of Generali, following Mediobanca(13.465% del capitale); Cassa depositi e prestiti (2.569%); B&D Holding di Marco Drago (2.433%) and Effetti (2.151%). After the news, Generali’s stock in the FTSE MIB went up to 0.86%.

The Chinese central bank also recently acquired stakes of some 2% in Italy’s biggest carmaker Fiat, top domestic telecoms operator Telecom Italia and Prysmian, the world’s biggest cable-maker.

At the beginning of the year, the bank also bought stakes of 2% also in leading oil and gas operator Eni  and domestic utility giant Enel.

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