(Bloomberg) -- Zurich Insurance Group AG denied a media report that the Swiss firm is considering acquiring Italy’s Finecobank.
Zurich “categorically denies it has any interest” in Fineco, a spokesperson said in an emailed response to a Bloomberg request for comment.
Italian daily Il Messaggero reported on Saturday that Zurich is reopening a plan to possibly purchase Fineco. The potential move, which the insurer considered previously and shut down in January, would see it buy the Italian company and later join forces with international investors including KKR and Advent, the newspaper said.
Fineco shares pared earlier gains after Bloomberg reported Zurich’s position. Shares were up 4% at €16.35 ($17.801) as of 2:27 p.m. in Milan.
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