LONDON (Reuters) – A rebel investor in Generali could take legal action if his bid to appoint new top executives at Italy’s largest insurer loses by a narrow margin in a shareholder vote this month, the candidate to the chairman role said.
In an interview with Reuters, former Goldman Sachs banker Claudio Costamagna said Generali investor Francesco Gaetano Caltagirone could challenge in court a victory by the opposite side at the April 29 AGM called to elect a new Generali board if the margin is less than 6%.
He also said the Caltagirone camp was “hopeful” of securing the vote of Italy’s Benetton family which owns around 4% of Generali and is yet to take sides in the feud pitting the construction magnate against Generali’s board and its main investor Mediobanca.
(Reporting by Carolyn Cohn and Pamela Barbaglia in London and Valentina Za in Milan; editing by Stephen Jewkes)
