MEDIOBANCA BOARD SETS DATE TO APPROVE EURALUX INCORPORATION

The board of Italian investment bank Mediobanca has scheduled a meeting for June 4 to approve its incorporation of Luxembourg-based holding company Euralux, which recently acquired French bank Lazard's 3.9% stake in Italian insurer Generali. The merger was planned before Euralux acquired the Generali stake and will boost Mediobanca’s holding in Generali to about 14% — strengthening its position as the Italian insurer’s most powerful shareholder. The June 4 meeting is also expected to convene a shareholders’ meeting to approve a capital increase linked to Euralux’s merger.