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Algebris fund sells Generali stake-report

Interactive Investor – Activist hedge fund Algebris has sold its stake in Italian insurer Assicurazione Generali SpA , a newspaper said on Tuesday, but a financial source said Algebris would attend the shareholder meeting this week.

Algebris head Davide Serra criticised Generali’s governance last year, a rare move among Italian shareholders, and lost his bid to appoint an auditor. He resumed his campaign last July by querying Generali investments.

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