Mediobanca Delays Meeting as Some Investors Waver on Takeover

Mediobanca SpA postponed a key investor meeting to endorse its plan to take over Banca Generali SpA, giving Chief Executive Officer Alberto Nagel more time to win shareholder support amid signs of insufficient backing for the deal.

The board delayed the meeting to Sept. 25 from June 16 after some investors with holdings in both Assicurazioni Generali SpA and Mediobanca said they needed to know the stance of the insurer, which controls the majority of Banca Generali, before “they feel able to vote” on the transaction, the Milan-based bank said in a statement Sunday.