MILAN, Italy, May 23 (Reuters) – They usually met in Milan
although on Wednesdays they lunched in Rome. But for the seven
men arrested on suspicion of corruption, the menu was always the
same, prosecutors said: alleged bribes to obtain building
contracts for Italy’s Expo 2015 world fair.
Milan prosecutors are investigating whether the group of
former politicians and entrepreneurs rigged contracts for Expo
and other public tenders, including a 67 million euro contract
to build facilities for next year’s Universal Exhibition,
according to a copy of the arrest warrant seen by Reuters.
MILAN, May 15 (Reuters) – Italian insurer Generali
expects to meet key capital and asset sales targets ahead of
time after kicking off talks with Brazil’s BTG Pactual for a
possible sale of Swiss unit BSI, a central plank of its
4-billion-euro disposal strategy.
Europe’s No.3 insurer by market value followed up on the
announcement of exclusive sales talks late on Wednesday by
posting a 9.4 percent rise in first-quarter net profit on
Thursday, a further sign that CEO Mario Greco’s drive to exit
non-core businesses and focus on insurance is working.
SAO PAULO, May 14 (Reuters) – Grupo BTG Pactual SA, Latin
America’s largest independent investment bank, is in exclusive
talks to buy wealth management firm BSI from Italian insurer
Generali SpA, according to a statement Wednesday by
The announcement came at the end of a Generali board meeting
prior to the Italian company’s release of first-quarter earnings
MILAN (Reuters) – Prime Minister Matteo Renzi has enlisted the head of Italy’s new anti-bribery authority to salvage preparations for Milan’s Expo 2015 world fair after a corruption scandal that risks disrupting the lucrative event.
Seven former lawmakers, managers and public officials were arrested last week over alleged attempts to influence public tenders for the fair, which Italy hopes will attract 20 million visitors and help bolster a still feeble economic recovery.