Bollore backs Mediobanca shareholder pact

Fri Mar 21, 2008 6:01pm EDT
 
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PARIS (Reuters) - French investor Vincent Bollore backed the renewal of a pact among leading shareholders in Italy's Mediobanca (MDBI.MI: Quote, Profile, Research, Stock Buzz).

"As far as I am concerned, my associates and I, we will back a renewal of the pact," Bollore told a small group of journalists after a press conference on Thursday.

Earlier this month, the head of UniCredit (CRDI.MI: Quote, Profile, Research, Stock Buzz) had said the renewal was far from certain.

Bollore owns 5 percent of Italian bank Mediobanca, which in turn is Italian insurer Generali's (GASI.MI: Quote, Profile, Research, Stock Buzz) largest shareholder with a 15.67 percent stake.

Bollore also told journalists he was very happy with his Mediobanca holding.

Separately, he said he was not worried about the possible departure of Antoine Bernheim, chairman of Generali, who is facing pressure by an activist fund to deliver better results.

"I am absolutely not worried about his future," Bollore said.

"It is evident that all the shareholders are backing him so there is no question about his departure," Bollore was quoted by his spokesman as saying earlier at the press conference.

Bollore said speculation about a possible merger between Generali and Mediobanca was "absurd."

(Reporting by Dominique Vidalon; Editing by David Holmes)

 

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