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Italy/Belgium: Insurance merger not a done deal

 |  January 7, 2014

Following Italian insurance giant UnipolSai’s recent merger with peer Fondiaria, reports say the company has not yet finalized a potential deal to sell off assets to a Belgium-based competitor, a move required by competition authorities for the initial merger.

The Italian deal lead to the nation’s second-largest insurance company; Italy’s antitrust authority ruled that Unipol must divest a unit with $2.3 billion worth of insurance premiums as part of the merger, however.

According to the Italian firm, the Belgian company made an offer to acquire the assets – but reports say it may not be sufficient.

Full Content: Reuters

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