Insurer Generali CEO Mario Greco said that the firm still intends to sell Banca della Svizzera Italiana (BSI) but at a good price. "We want to sell non-core assets at the right price and at the right conditions, and this is complicated, takes time, requires negotiating, and this is what we are continuing to do," he said. In a conference call, he told reporters that its Swiss private banking firm "is a good asset and has a good value" but did not update on the status of the sale.
Earlier reports speculated that the transaction had stalled. "It's a complicated market at the moment for that type of asset. We want it to command a good price and we are very careful about obtaining a good value," he added.
Banco Espírito Santo (BES), the second-largest listed bank in Portugal, revealed last month that it was studying the possibility of buying BSI. Bankinter was seen as a potential acquirer but the Spanish bank had said it was not anymore interested. It's been more than two years since Generali has been trying to find a buyer for BSI, Reuters reported.
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