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Generali denies market talk of interest in L&G

Published 09/30/2009, 07:02 AM
Updated 09/30/2009, 07:03 AM
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MILAN, Sept 30 (Reuters) - Italian insurer Generali said on Wednesday it had no interest in British insurer Legal & General , denying media reports and market speculation that have named it as a potential buyer.

"Generali is not interested," a spokeswoman said.

Market speculation of takeover interest life insurer L&G has seen the stock rise 15 percent in the past three days, after weekend newspaper reports said it was preparing a defence document against a potential bid from rival Resolution.

Traders have also named Generali among potential buyers.

L&G, which rose over 7 percent earlier on Wednesday, was up 4.4 percent at 1058 GMT.

(Reporting by Gianluca Semeraro)

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