MILAN, March 5 (Reuters) - French insurer Groupama said it will decide in coming days whether to launch a full takeover for Italian peer Fondiaria-SAI and its holding Premafin or drop plans to buy minority stakes following its publication on Saturday of a detailed ruling by Italian market regulator Consob.
'Tre group will evaluate in coming days (Consob's) reasons, their implications and the open options for the group', Groupama said in a statement.
Groupama has agreed to take around 17 percent of debt-laden Premafin via a capital increase and expressed the intention of buying up to 20 percent in Italy's No.2 insurer by premiums Fondiaria.
In the attached Consob's detailed decision, the regulator said Groupama and Premafin would act in concert, requiring the launch of a takeover bid under Italian law.(Milan Newsroom +390266129507)
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'Tre group will evaluate in coming days (Consob's) reasons, their implications and the open options for the group', Groupama said in a statement.
Groupama has agreed to take around 17 percent of debt-laden Premafin via a capital increase and expressed the intention of buying up to 20 percent in Italy's No.2 insurer by premiums Fondiaria.
In the attached Consob's detailed decision, the regulator said Groupama and Premafin would act in concert, requiring the launch of a takeover bid under Italian law.(Milan Newsroom +390266129507)
more info click on COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.