People's Bank of China buys shares in Italy's Generali

Latest purchase in Italian shopping spree by Chinese bank

(ANSA) - Milan, August 8 - The People's Bank of China, the Asian giant's central bank, has taken a 2.014% stake in one of Italy's largest insurance companies Generali, national financial market regulator Consob said Friday.

It's the latest in a string of strategic purchases by the Chinese central bank in major Italian firms. In recent months, the bank has bought up shares in Torino-based automaker Fiat, Telecom Italia, cable-maker Prysmian, and energy majors Eni and Enel.