Mediobanca board Wed did not discuss spinoff of equity stakes-Ben Ammar
MILAN, Sept 5
MILAN, Sept 5 (Reuters) - Italian merchant bank Mediobanca's board did not discuss a split between the merchant bank and its portfolio of equity holdings, which includes insurer Generali, said board member Tarak Ben Ammar after the meeting on Wednesday.
Such a split was also not a topic requested for discussion, said Ben Ammar, and was not on the agenda.
In a statement, the board said it acknowledged an update from Chief Executive Alberto Nagel on an ongoing investigation related to a merger between two insurers.
Italian papers have suggested that the bank's shareholders could eventually want to spin off the bank's equity holdings.
If Mediobanca were to spin out its holdings, it capital base would weaken, analysts have said.
(Reporting by Gianluca Semeraro)
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