(Refiles to fix Reuters Identification Code for Generali)
MUMBAI, April 21 India's Larsen & Toubro Ltd
said on Monday its unit had called off talks with
Future Generali Insurance, a joint venture between local retail
chain operator Future Group and Italy's Generali, to
merge their businesses.
The company did not give any reason for ending the merger
Last March, L&T General Insurance, a unit of construction
and engineering company Larsen & Toubro, and Future Generali had
signed an agreement to merge the businesses.
After the deal, L&T was expected to hold a 51 percent stake
in the joint venture, with Generali holding 26 percent and the
rest with Future Group.
(Reporting by Aradhana Aravindan; Editing by Sumeet Chatterjee)