Generali to exercise demerger option from Telco

Trieste. In compliance with the terms of the shareholders agreement, the Board of Directors of Assicurazioni Generali, chaired by Gabriele Galateri di Genola, resolved to exercise the demerger option from Telco and gave mandate to the Group CEO to define the exact procedure to implement the exit.

The shareholders agreement will still bind Generali until the deadline of 28th February 2015 or, should the demerger be earlier finalized, until the process is completed, subject to the fulfilment of the necessary requirements before the competent authorities.

The exit from Telco is in line with the Group’s strategy, aimed at actively administrating its assets, and it will streamline the management of the investment itself.