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Report: Benetton family vehicle eyes further 3% of Generali

The Benetton family, through its Edizione Srl investment vehicle, plans to raise its 2% stake in Generali, Reuters reported March 19, citing "two sources close to the matter."

Although no decision has been made yet, the company could increase the stake to about 5%, the newswire said, citing a March 17 report by Italian newspaper Il Sole 24 Ore. Reuters noted that the market price of an additional 3% Generali stake would be approximately €740 million at prevailing rates.

Sources told Bloomberg News in January that Edizione was in the process of buying up shares in Generali to roughly what was then a stake of less than 1%. The Benetton empire is primarily known for its clothing business.