Deals
UniCredit Stalls on Fondiaria Capital Increase, Messaggero Says
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UniCredit SpA, Italy’s largest lender, may not take part in Fondiaria-SAI SpA’s capital increase, daily Il Messaggero reported, without saying where it got the information.
UniCredit has a 6.7 percent stake in the Italian insurance company. Only foreign banks, including Morgan Stanley, are willing to take part in a group to guarantee the recapitalization of Fondiaria, Premafin SpA and Unipol Gruppo Finanziario SpA, the daily newspaper reported. Unipol executives will meet with Italian insurance regulator ISVAP today to discuss a potential merger with Fondiaria and Premafin SpA today, the daily reported.