TURIN, Italy (Reuters) - The top shareholder in Intesa Sanpaolo said on Wednesday it had confidence in the bank's management, signalling that it would not oppose a possible tie-up with insurer Generali.
Intesa on Tuesday confirmed it was exploring a possible deal with the insurer.
Asked about such a combination, Francesco Profumo, head of Compagnia di San Paolo said: "Naturally, Compagnia does not want to interfere. It believes in the management, which will make its own choices."
Compagnia di San Paolo, a banking foundation, has a 9.3 percent stake in the bank.
(Reporting by Gianni Montani, writing by Silvia Aloisi, editing by Francesca Landini)
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